EIDL Advances are non-taxable for CA per AB80. How do I report this for an S-Corp ?

Forum|Forum|5 years ago
May 6, 2021
3 replies
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I have reported the EIDL advance received on screen 13 … but it is still turning up as taxable on the CA return. How do I report this so it is appropriately non-taxable for Fed and CA ? Thanks

Lacerte Tax

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George4Tacks

Level 15

The EIDL is a balance sheet item. Cash in bank vs EIDL payable. When forgiven EIDL payable vs M-1 adjustment for EIDL Forgiven

Answers are easy. Questions are hard!

qbteachmt

Level 15

Here's your Help article:

https://proconnect.intuit.com/community/corporation/help/how-to-enter-forgiven-ppp-loans-in-lacerte/00/118854

It seems you will enter the Grant now and the Loan still is a Loan until forgiven.

For CA, I suspect the program has not been updated. EIDL advance was taxable in CA until April 29. I've not seen anything on this forum for CA update for that issue.

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qbteachmt

Level 15

Let's try to get @Just-Lisa-Now-

Lisa: Are you aware of any update to accommodate the April 29 changes in AB 80, even to ProSeries?

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