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Daycare and Taxes All things related to Taxes and running a Daycare post here. Topics of tax exemptions, forms, filings, tax write offs, IRS etc.

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Old 02-21-2021, 04:58 PM
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tenderhearts tenderhearts is offline
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Default Help Grant Question For Tom

I live in Oregon and received grant money from the Early Learning Division for the pandemic and received a 1099-NEC, my tax preparer is asking if this is income for my daycare business or to me? I'm pretty sure that it's income to my business since the funds had to be used for daycare correct? so he's basically wanting to know if it's taxable to my business or to me. Thank you
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Old 02-21-2021, 09:13 PM
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Originally Posted by tenderhearts View Post
I live in Oregon and received grant money from the Early Learning Division for the pandemic and received a 1099-NEC, my tax preparer is asking if this is income for my daycare business or to me? I'm pretty sure that it's income to my business since the funds had to be used for daycare correct? so he's basically wanting to know if it's taxable to my business or to me. Thank you
Business. I have one a 1099-NEC too and I use turbo tax and placed it under the business income.
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Old 02-22-2021, 09:16 AM
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Default Grants

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Originally Posted by tenderhearts View Post
I live in Oregon and received grant money from the Early Learning Division for the pandemic and received a 1099-NEC, my tax preparer is asking if this is income for my daycare business or to me? I'm pretty sure that it's income to my business since the funds had to be used for daycare correct? so he's basically wanting to know if it's taxable to my business or to me. Thank you
Grants are taxable income to your business.
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Old 02-22-2021, 09:59 AM
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That's what I thought thank you so much
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Old 09-23-2021, 12:08 PM
FanyB
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There were so many of these taxes that I began to get confused about them.
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