etolnz
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The advance is not a loan since repayment is not required.
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Since it does not need to be repaid, it is no longer a loan. It became a grant.
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That is clearly incorrect.IRS Pub 4345 states:"If you receive a settlement for personal physical injuries or physical sickness and did not take an itemized dedu...
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- Got Cheered for Re: Is the EIDL Advance (grant) considered taxable income?. April 29, 2022 1:16 PM
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- Posted Re: Is the EIDL Advance (grant) considered taxable income? on Get your taxes done using TurboTax. March 2, 2021 8:28 PM
- Posted That is clearly incorrect. IRS Pub 4345 states: "If you... on Deductions & credits. May 31, 2019 9:49 PM
- Posted How do I enter a 1099 Misc for an exact settlement that covered a medical expense if I do not itemize deductions? The medical expense was never used as a deduction. on Deductions & credits. May 31, 2019 9:49 PM