I think Tom would agree with me, you have to claim the grant on your taxes. However, they may have made away to make it a tax-exempt rule for all the grants but we are going to have to report that we got them. Don't forget anything you bought with the grant is tax deductible.
That is how I currently have it recorded. "Other income" then what I bought recorded under "expenses" and "100% daycare use".
I hit print at close on December 31st. Taxes done.
- Unless otherwise stated, all my posts are personal opinion and worth what you paid for them.
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