Help Grant Question For Tom

[tenderhearts]

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

[284878]

Originally Posted by tenderhearts

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.

[TomCopeland]

Originally Posted by tenderhearts

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.

[tenderhearts]

That's what I thought thank you so much

There were so many of these taxes that I began to get confused about them.