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If PPP loan interest is forgiven, can the interest expense be deducted?

Cassandra
Level 1
 
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IRonMaN
Level 15

Yes, but you didn't pay any interest.


Slava Ukraini!

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3 Comments 3
IRonMaN
Level 15

If it is forgiven, what expense do you have?


Slava Ukraini!
Cassandra
Level 1

Expenses paid with PPP loan proceeds are deductible. 

 

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IRonMaN
Level 15

Yes, but you didn't pay any interest.


Slava Ukraini!