AmyD
Level 2

Is the EIDL Advance (grant) considered taxable income?

For the Economic Injury Disaster Loan Advance, do I have to put it on my taxes anywhere? I only received the advance and declined the loan portion of things.

 

Seems like according to this website, they are not taxing the Advance amount (the grant money that doesn't have to be paid back.) "If you received the EIDL loan, taxes on these funds work like any other business loan taxation. In other words, funds from the EIDL are not reported as taxable business income on your tax return. "