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

[mtlmihelich]

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

[George4Tacks]

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

[qbteachmt]

Here's your Help article:

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

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.

[qbteachmt]

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?

[Just-Lisa-Now-]

George yelled at me the last time I commented on a Lacerte thread, so maybe he can help you out.

[qbteachmt]

It just got posted, here:

https://proconnect.intuit.com/community/lacerte-tax-news-updates/discussion/2020-lacerte-tax-program...

[George4Tacks]

What do you mean I YELLED????

[qbteachmt]

I think you threw a flag on her play 🙂

Here's a new topic for Lacerte and PPP/EIDL:

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