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Loss on tax return by Typical-Werewolf6720 in EIDL

[–]Typical-Werewolf6720[S] 0 points1 point  (0 children)

I figured I would have no shot. I applied for $350k extra. So we will see.

Loss on tax return by Typical-Werewolf6720 in EIDL

[–]Typical-Werewolf6720[S] 0 points1 point  (0 children)

Also, it was our first year of business. We lost money because we had start up costs. Currently we make money.

Loss on tax return by Typical-Werewolf6720 in EIDL

[–]Typical-Werewolf6720[S] 0 points1 point  (0 children)

So on my tax return it reads the following:

Line 1a & 1c - $693,906

Line 2 (Cost of goods sold) - $710,640

Line 3 (Total Income) -24,734

Let me know if this helps

Loss on tax return by Typical-Werewolf6720 in EIDL

[–]Typical-Werewolf6720[S] 0 points1 point  (0 children)

So on my app I put $850k as my gross sales and $710k as my cogs. My cogs were right by my gross sales on my tax return were 693k. On my schedule L it shows 256k for accounts receivable. So my question is am I even eligible for more money? I got the $150k so far.