Tambren
Level 3
02-17-2021
10:38 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
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!
Labels
Strongsilence-C
Level 10
02-17-2021
12:20 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Tambren
Spidell's message board is a very useful forum for California issues. I hope you enjoy it.
Tambren
Level 3
02-17-2021
12:21 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Thank you. I am asking specifically how to make it work in the Lacerte tax program. I can check Spidell but didn't think the answer would be there.
Taxorama
Level 2
04-13-2021
12:16 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
I have the same issue. Is there a solution?
