- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
The fist one (PPP) is definitely not taxable even if forgiven, so you don't need to enter it on your tax return. The same probably goes for the second one (EIDL) but that is less clear. The EIDL loan is normally taxable if forgiven, but since it is associated with the PPP program this year, it is likely not taxable either, but I am anxious to see what others in the community think about it.
The county economic relief is taxable on your federal return as it is not directly associated with the federal PPP program.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎January 18, 2021
8:42 PM