PPP loans are forgiven. Deductions are allowed. Do I need to show forgiven loan amounts. My financial reflects non taxable income, the PPP loan. Do I need to show the forgiven PPP loan on the corporate tax return.
This discussion has been locked. No new contributions can be made. You may start a new discussion here
You need to show it on the return as a reconciling item between book income and taxable income.
Here is your Help article:
Got it
Thanks.
You have clicked a link to a site outside of the ProConnect Community. By clicking "Continue", you will leave the Community and be taken to that site instead.