Filed 1120 for the period 2019-20, took reduction in salaries/other exp. for PPP funds received in the amount of $ 33,000/-  tax treatment implication when filing for Amended 1120 tax return filing -  how to take  offset for reduction in salaries/expenses as also received letter for forgiving PPP funds in the middle of 2020 period.  pls guide for treating the items for 1120 amended tax return  as also for loan forgiveness to be treated as exempt income - to be  treatment under M-1 and M-2 schedules.

pls guide - I am in the midst of filing 1120 Amended tax return