Yes, it is taxable but since it is reported as Self-employed income, you may deduct expenses associated with the grant. To report in Turbo Tax Home and Business Desktop:
- Open Turbo Tax
- Select the Business tab
- Choose what you work on.
- Go to Business income and Expenses>profit and loss from Business>start
- You will need to set up a business profile if you haven't done so already.
- Once you finish the profile, you will reach a screen that says Your XXX Business.
- Next select Business Income>start
- Next will be several categories of income. For the Grant income, you will want to select General Income
- Under the description, you will put CA Relief Grant for small Businesses and the amount.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
