https://ttlc.intuit.com/community/taxes/discussion/eidl-reporting/01/1823118#M649264 <P>My brother received an Eidl loan (not grant). He is under the impression because it is a loan that has to be repaid he does not need to report in on taxes. Is this true or does he have to report it as income?</P> Sun, 24 Jan 2021 19:56:38 GMT Msnatalie901 2021-01-24T19:56:38Z https://ttlc.intuit.com/community/taxes/discussion/eidl-reporting/01/1823118#M649264 <P>My brother received an Eidl loan (not grant). He is under the impression because it is a loan that has to be repaid he does not need to report in on taxes. Is this true or does he have to report it as income?</P> Sun, 24 Jan 2021 19:56:38 GMT https://ttlc.intuit.com/community/taxes/discussion/eidl-reporting/01/1823118#M649264 Msnatalie901 2021-01-24T19:56:38Z https://ttlc.intuit.com/community/taxes/discussion/re-eidl-reporting/01/1823211#M649300 <P>No, he does not have to report the EIDL Loan as income. Funds from the EIDL are not reported as taxable business income on your tax return.&nbsp;He can also lower his&nbsp;tax liability by deducting any expenses covered by the use of these funds.</P> Sun, 24 Jan 2021 20:19:28 GMT https://ttlc.intuit.com/community/taxes/discussion/re-eidl-reporting/01/1823211#M649300 AlanT222 2021-01-24T20:19:28Z https://ttlc.intuit.com/community/taxes/discussion/re-eidl-reporting/01/2086370#M750792 <P>This is not the case for California. I have a mismatch between federal and state M1 vs Schedule K. How to solve?</P><P>&nbsp;</P><P>&nbsp;</P> Mon, 15 Mar 2021 20:18:43 GMT https://ttlc.intuit.com/community/taxes/discussion/re-eidl-reporting/01/2086370#M750792 supratt 2021-03-15T20:18:43Z