SBA Sec 1112 Mortgage Payments for CA & Lacerte Updated on CA EIDL Grant - Spidell

SBA Sec 1112 Mortgage Payments for CA & Lacerte Updated on CA EIDL Grant

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Message Board SBA Sec 1112 Mortgage Payments for CA & Lacerte Updated on CA EIDL Grant

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    • #301716
      Anonymous
      Participant

      Does anyone know whether these SBA paid mortgage payments are taxable or non-taxable for CA? I can’t seem to find anything related to it in AB 80.

      For those of you who use Lacerte, does anyone know when it will be updated for CA’s conformity of EIDL grant being non-taxable?

      Thx.

    • #301796
      Sandy Weiner
      Participant

      The SBA subsidies are taxable for CA.

      • #301825
        Anonymous

        Thank you Sandy! Would you please let me know where i.e. a Bill or the CA Revenue Code that addresses this for my file? Thank you so much!

    • #301854
      Sandy Weiner
      Participant

      The exclusion of SBA payments was enacted by Sec. 278(c) of the CVOID-related Tax Relief Act of 2020 in the Consolidated Appropriations Act.  California has not conformed.  Conformity to this provision was not included in AB 80.

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