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Daycare and Taxes>Help Grant Question For Tom
tenderhearts 03:58 PM 02-21-2021
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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284878 08:13 PM 02-21-2021
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.
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TomCopeland 08:16 AM 02-22-2021
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.
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tenderhearts 08:59 AM 02-22-2021
That's what I thought thank you so much
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FanyB 11:08 AM 09-23-2021
There were so many of these taxes that I began to get confused about them.
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Tags:1099, grant - or, grants, oregon
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