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Investors & landlords
Thank you very much KrisD15. Yes, you guessed correctly. These were funds provided by the Fed to the state and then distributed via a non-profit organization. They are sending 1099-MISC but I because of an error on their part, I may be able to ask them to send 1099-G. I use Turbo tax Home and business.
I could not do it with the first two suggestions, but I used the last method you suggested under the "Miscellaneous Income" and worked fine
I still have one question, though.
When the loan is forgiven, I expect in 5 years, does it then become income and I should report it as such?
Thank you very much for your help
George
‎February 11, 2021
6:44 PM