NYS Urban Development Taxable Grant

Technical topics regarding tax preparation.
#1
Posts:
90
Joined:
4-Sep-2019 9:51am
Location:
New York
Self employed client in NYC received $23,000 1099-G for a taxable covid grant. NYS is offering an exclusion for the full amount. The taxable grant should go on the Schedule C, correct? He's arguing with me that it shouldn't be subject to S/E tax, but I explained it was used to fund his business. Just wanted to make sure I'm correct.
 

Return to Taxation



Who is online

Users browsing this forum: BFStax, davidlat, Google [Bot], Google Adsense [Bot], JessCPA113, JoJoCPA, Miami88, Nilodop and 122 guests