Mark_H
Level 2
02-10-2021
01:48 PM
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Client is a self-employed (sole proprietor) consultant who received a PPP loan for his lost income. The loan was forgiven. My understanding is that forgiven loan is not taxable, but I'm also assuming that it needs to be reported. Where would I input this PPP loan/forgiveness information?
Thanks,
Mark
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TAXOH
Level 11
02-10-2021
01:49 PM
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You don't need to report it.
IRonMaN
Level 15
02-10-2021
01:50 PM
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No place - other than maybe his state return
Slava Ukraini!
genius
Level 2
02-11-2021
09:11 PM
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Since PPP Forgiveness is FULLY TAXABLE in some states...The question remains open...How do you report it in ProSeries?