sjrcpa
Level 15

Yes, but once it is forgiven it is nontaxable income.

I haven't had any Sch C PPP loans forgiven in 2020. But I would not put them on the Sch C.

For CA, I'd wait until they make up their mind, but prepare the client for the worst case-that the amount of the PPP loan is an addback to CA income.


Ex-AllStar