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How do I report 1099-G income related to my Schedule C business?
I was awarded a grant from the State of Massachusetts and received a 1099-G from them. The grant was a "cultural sector recovery grant" for artists, and I have a Schedule C arts-related business. TurboTax asks about 1099-G government grants in the Personal Income section. Do I report this grant there, even though it's related to my Schedule C business, or on my Schedule C form?
I can see how to report my 1099s in Schedule C, but not how to report this grant, though it may be more beneficial to me to report it there, as I applied the grant to business expenses, as is intended by the state.
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‎April 9, 2024
12:50 AM