topic Re: EIDL Grant Balance Sheet in Other financial discussions

EIDL Grant Balance Sheet

kenj2021 — Sun, 03 Jan 2021 01:11:19 GMT

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?

Re: EIDL Grant Balance Sheet

MissMCJ — Sun, 03 Jan 2021 02:52:50 GMT

I would contact Quickbooks and see what they are doing about this. I am sure you will not be the only person to experience it.

Re: EIDL Grant Balance Sheet

kenj2021 — Sun, 03 Jan 2021 05:37:25 GMT

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.