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melanie5
Level 1
April 12, 2021
Question

Virginia does not accept deductions for expenses paid by the EIDL. How do I adjust for that on a Sch C?

  • April 12, 2021
  • 1 reply
  • 8 views
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1 reply

sjrcpa
sjrcpa
Level 15
April 12, 2021

I though it was:

Only $100K of expenses paid with a PPP loan that will be forgiven are deductible.

 

EIDL is a loan that has to be repaid.

The more I know the more I don’t know.
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