Ehrler CPA
Level 1
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Presently, the tax program appears to include the tax free PPP loan forgiveness funds in taxable income, which is carried over to Schedule K as ordinary income. Also, the PPP is carried to retained earnings and is included in a shareholders basis, and available for NOL utilization.

I'm not sure if the PPP treatment is correct. Appreciate any other comments on the subject. 

 

 

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