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Negative equity due to EIDL Loans

suzanner
Level 1

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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2 Comments 2
qbteachmt
Level 15

Are these Forgiven already?

Read this Help article:

https://proconnect.intuit.com/community/business-income-taxes/help/how-to-enter-forgiven-ppp-loans-i...

 

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sjrcpa
Level 15

EIDL is not forgivable.

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

The more I know, the more I don't know.