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EIDL not taxable for CA, right?

Forum|Forum|5 years ago
June 18, 2021
1 reply
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Beware of using screen 13 Income to input EIDL advance (grant) received last year for CA S-corp clients

It has been months since CA conformed to tax-free treatment of these grants up to $10,000, but Lacerte is still adding back to income on CA K-1s.

I assume this goes for the individual, partnership modules as well.

Lacerte Tax

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Best answer by qbteachmt

This help article includes the AB 80 update info:

https://proconnect.intuit.com/community/diagnostics/help/how-to-apply-california-ppp-and-eidl-conformity/00/162756

qbteachmtAnswer

Level 15

This help article includes the AB 80 update info:

https://proconnect.intuit.com/community/diagnostics/help/how-to-apply-california-ppp-and-eidl-conformity/00/162756

Don't yell at us; we're volunteers

justataxnerdAuthor

Level 3

Oh I see. Makes sense that you have to choose whether to conform or not as you may have already filed. I just can't imagine why you would want to file and pay taxes if there was doubt on the taxation of the funds. But I guess extending vs filing and potentially having to amend is a choice that each taxpayer and their preparer had to make.