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- Entering PPP Forgiveness on NJ CBT 100S
Entering PPP Forgiveness on NJ CBT 100S
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Bob A
Level 1
03-05-2021
10:45 AM
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I am having trouble with an NJ CBT 100S Return that has PPP Forgiveness.
The PPP Forgiveness entered on the federal return is showing as an add back on NJ Schedule K under Other Income (Part II, Line 2l) and carrying over as income on the K1s. NJ is supposed to be following federal guidelines so the forgiveness should not be taxable.
How do I properly show this?
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