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PPP Loan CA

Level 1

Where are you entering the PPP loan amount on the California return.  We are adding the PPP loan amount as an M-1 adjustment for federal and as other addition on Screen 44.  Wondering if there are other suggestions.

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5 Replies 5
Level 1

I am wondering the same. When I add as an adjustment on Screen 44 it does not flow through to the CA K1 and I have to manually override the K1. Are you having the same issue?

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Level 1

Yes, I am having the same issue of adjustment on Screen 44 not flowing to the CA K1. 

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Level 3

Hopefully a future Lacerte update will accommodate this by allowing "state, if different" fields/column to S-Corp screen 15.

I imagine nothing's in Lacerte yet to accommodate this because Congress just passed the law two weeks ago to allow federal deduction of those expenses, so Lacerte wasn't expecting fed/state differences to exist.

So until then, I imagine everything will have to be backdoored and manually adjusted.

Level 1

Does adjustment under "California Conformity Adjustment" in screen 44 work under "Ordinary Income" ?

Level 1

It puts it in the right place on the K1, so thank you for that suggestion