Question
EIDL Grant Taxable California but not Fed
Has anyone figured out a way to make this work correctly in a S-corp? The only way I could make it work was to treat the EIDL grant as PPP loan expenses but that isn't a correct description on the tax return. If I do an M-1 for fed and not CA, I couldn't find a way to add the income to the CA taxable income so that the M-1 schedule was correct. Appreciate any help!
