Solved
Client received an EIDL Grant and a PPP Loan - Are Both non-taxable?
My client received $1,000 as an EIDL grant in April and then received $20,000 as a PPP loan. I know that the PPP loan proceeds are tax-free and that the proceeds can be used to pay for deductible expenses.
Regarding the $1,000...is that also tax-free under the recently passed legislation?
