ljr
Level 8
02-21-2021
07:23 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Just want to confirm I'm up to date with what the final regulation is for regular SBA loan payment forgiveness. S-corp client has existing SBA loan which had 6 months of payment made to bank by SBA. Originally I thought this would be taxable cancelled debt income but I think I remember seeing that is now treated as non taxable income. Am I correct and where would be the correct place to input on the 1120-S return? Thanks.
Labels