SBA $1,000 advance per employee

[ILLMAS]

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

[Lee B]

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.

[Catherine]

42 minutes ago, cbslee said:

It should balance.

Note the use of the conditional...  just sayin'.