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ppp loan forgiveness

9-30-2020 fiscal year corp spent all PPP loan proceeds in current fiscal year.  PPP loan forgiveness will occur in 9-30-2021 fiscal year.  In which year would you record the expense offset?

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"In which year would you record the expense offset?"

What expense offset would that be?

https://www.journalofaccountancy.com/news/2020/may/expenses-reimbursed-by-ppp-not-tax-deductible-pay...

https://www.accountingtoday.com/news/aicpa-joins-other-groups-in-urging-tax-deductions-for-ppp-loan-...

https://www.journalofaccountancy.com/news/2020/aug/aicpa-asks-congress-for-ppp-deductibility-in-upco...

Right now, those costs are not a tax deduction.

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