Is a grant on a 1099-MISC taxable income?

1DeTaxman1
1DeTaxman1 Member Posts: 4 Newcomer
edited December 2024 in Income

How do I determine if a 1099MISC "grant" issued to daycare facility due to loss of kids because of COVID is taxable income?

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  • TristinJ
    TristinJ FreeTaxUSA Agent Posts: 6 image
    Answer ✓

    Generally if the grant has been reported on a 1099-MISC, it is taxable. You will need to reach out to the issuer for more clarification regarding specifics of your grant.

  • 1DeTaxman1
    1DeTaxman1 Member Posts: 4 Newcomer
    Answer ✓

    I agree. Will investigate further with IRS..

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  • 1DeTaxman1
    1DeTaxman1 Member Posts: 4 Newcomer

    How do I determine if a 1099MISC "grant" issued to daycare facility due to loss of kids because of COVID is taxable income?

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