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Sheila209
Level 1

EDIL Income

Our company (S Corp) received an EDIL due to COVID-19. Is that reported as income? If not, is it reported at all and if so, how?

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‎February 6, 2021 11:43 AM
last updated ‎February 06, 2021 11:43 AM
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npierson7
Level 1

EDIL Income

No, EDIL  is not  taxed as income and you don't have to include it in your tax return. 

‎February 6, 2021 12:05 PM
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AmeliesUncle
Level 14

EDIL Income

The loan itself is not entered on the tax return.  If the loan was forgiven, that is entered as tax-exempt income.

‎February 6, 2021 3:55 PM
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