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S
suzanner
Level 2
May 31, 2021
Question

Negative equity due to EIDL Loans

  • May 31, 2021
  • 1 reply
  • 4 views

I don't know what to do I have so many clients now that have negative equity due to EIDL loans - how is everyone handling this - make it income???

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1 reply

qbteachmt
qbteachmt
Level 15
May 31, 2021

Are these Forgiven already?

Read this Help article:

https://proconnect.intuit.com/community/business-income-taxes/help/how-to-enter-forgiven-ppp-loans-in-proseries/00/119460

 

Don't yell at us; we're volunteers
    sjrcpa
    sjrcpa
    Level 15
    June 1, 2021

    EIDL is not forgivable.

    If they have negative equity, that's what they have.

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