Ken59711
Level 1
03-09-2021
03:02 PM
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On MN S-Corp Schedule KS Totals for MN Non Conforming Items, the entry for Paycheck Protection Program requires a negative entry on the form (Line 1). Should not that entry be positive?
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IRonMaN
Level 15
03-09-2021
03:42 PM
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Ken makes an interesting point. PPP loan forgiveness currently is an add back to income for Minnesota. However, the form does not allow you to enter a positive number, only a negative number can be entered (schedule KS page 2 line 1). This results in a subtraction from income instead of an addition. Can you shed any light on this issue?
Slava Ukraini!
Orlando
Intuit Alumni
03-09-2021
07:36 PM
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I've asked those in the know.. stay tuned.
IRonMaN
Level 15
03-09-2021
08:06 PM
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Thanks!
Slava Ukraini!
