My current accountant is telling me the EIDL Loan, (not grant) does not increase basis. He referenced IRS code that says a personal guarantee on a loan doesn't automatically allow basis increase. I've referenced IRS code that says the PPP loan forgiveness does increase basis, as well as the EIDL grants, but can't find anythings that references the loans. He wont process my return showing the increase in basis. What documentation can I show him that will work in my favor?
