ILLMAS Posted February 9, 2021 Report Share Posted February 9, 2021 Has anybody reconciled their clients $1,000 per employee (up to $10,000)? I temporary have it on the balance sheet as a liability but I am not accounting for it on the tax return balance sheet and I am off by that amount. Wondering if someone reconciled the amount on the M-1 schedule and on what line was it put? Thanks MAS Quote Link to comment Share on other sites More sharing options...
Lee B Posted February 9, 2021 Report Share Posted February 9, 2021 I only have one client who received an EIDL Grant, which is not taxable. I am showing it in Other Income on their financial statement. Then I am showing as an M -1 item, Line 7. It should balance. 4 Quote Link to comment Share on other sites More sharing options...
Catherine Posted February 9, 2021 Report Share Posted February 9, 2021 42 minutes ago, cbslee said: It should balance. Note the use of the conditional... just sayin'. 1 Quote Link to comment Share on other sites More sharing options...
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