I have entered my EIDL grant as non-taxable income in Quickbooks. However, now my balance sheet won't balance with Turbo Tax. It's off by exactly the amount of the grant. How should that be rectified?
This is a Turbo Tax issue, not a Quickbooks issue. It's easy to record it as non-taxable income in Quickbooks. There's no place to account for non-taxable income in Turbo Tax to properly reflect in the Balance Sheet reconciliation.