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ppp loan forgiveness
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steveseinfeld
Level 1
09-16-2020
02:31 PM
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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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1 Comment 1
qbteachmt
Level 15
09-16-2020
05:37 PM
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"In which year would you record the expense offset?"
What expense offset would that be?
Right now, those costs are not a tax deduction.
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