@jprince1
If you think the PPP loan will be forgiven, then you won't report it as taxable income in TurboTax. You would report it on line 16(a) as Other Tax-Exempt Income if you are filing a form 1120-S. It would appear on your financial statement as either loan payable or other income, so there may be a reconciliation issue if you report your balance sheet on your tax return. This will be handled by the entries in Schedule M-1 and M-2 in TurboTax and on your corporate income tax return.
The EIDL grant is normally taxable, but there may be more guidance on that by the IRS in the near future. You would enter it as other income in TurboTax, if it is taxable.
[Edited 1/25/21 1:31PM PST]
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