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6 replies

MaryK4
MaryK4
Alumni - Intuit
Mar 14, 2021 6:35 PM UTC

The EIDL loan is not income because you are obligated to pay it back.  NOTE: You may also be able to deduct any interest incurred as a business expense.

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Graysonmae
Level 2
Mar 1, 2022 8:45 PM UTC

Then how would you book it in quickbooks online, (the eidl loan)? We used it for debts and payroll. Our one managing member in the llc works everyday and was paid from the eidl as a salary for work performed as covid affected our income. Is it just putting it on the books so they may be paid as their pass through for their salary? 

Graysonmae
Level 2
Mar 1, 2022 8:45 PM UTC

Hoping @MaryK4 knows 🙂 

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