No. Nothing specific needs to be done regarding your EIDL Grant. It is not taxable income.
If you report your business income on a Schedule C, there is no need to report it at all.
If you report your income from a Schedule K-1, it will already be reported as part of your Schedule K-1 as non-taxable income.
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