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Self employed
Hi Amigas002,
The Consolidated Appropriations Act (CAA) provides that taxable income does not include EIDL grants.
https://www.jpspa.com/consolidated-appropriations-act-effect-ppp-eidl/
Economic injury disaster loans are not taxable for Federal and the expenses paid with this advance are deductible.
https://gpwcpas.com/grant-credit-loan-and-other-relief-comparison-chart/
Hope this helps,
Ron G
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‎October 27, 2021
2:19 PM