You are correct if talking about a PPP loan, but the person specifically inquired about their EIDL Advance/Grant which is automatically forgiven even if they ar...
But the grant portion (advance) does not have to be paid back and IS NOT considered Income, so what is the correct account? I saw Equity Account somewhere?
It's forgiveable and it's not taxable as income, so I do not believe "Other Income" account is accurate. Please, can someone provide the proper type of account ...
