Question

Is a grant for the installation of a fortified roof from from the NC Joint Underwriters Association taxable? If so, where is it reported?

Forum|Forum|6 years ago
January 31, 2020
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TurboTax Self Employed Online

Employee

Maybe, Was it funded by the state at some level? If so, you will receive a 1099 and it is reportable. Otherwise, it is not.

The IRS says:

Taxable Grants. Enter any amount of a taxable grant administered by a federal, state, or local program to provide subsidized energy financing or grants for projects designed to conserve or produce energy, but only with respect to energy property or a dwelling unit located in the United States.Oct 3, 2019 from Instructions for Form 1099-G (2020) | Internal Revenue Service

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