Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- ProSeries Tax
- :
- ProSeries Tax Discussions
- :
- SBA EIDL Grant
SBA EIDL Grant
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
Futch2010
Level 3
03-31-2022
05:14 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
According to the ProSeries Software, in 2020, the SBA EIDL should be reported on Schedule K, 16a, as Tax-exempt income, which then flows to M-2, OAA. However, the IRS has changed how they want this SBA EIDL Grant money reported and needs to be corrected on 2021 return. It needs to show up on the M-2, AAA as Other Additions and then on OAA as Other Reductions. The only way I can make this work is to deactivate the M-2 Worksheet. It works when I manually put the figures in. My question is if it is ok to deactivate the M-2 Worksheet? Or is there another way to fix this problem?
Labels
