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Forgiven PPP Loan for Self Employed Sole Proprietor?

Mark_H
Level 2

Client is a self-employed (sole proprietor) consultant who received a PPP loan for his lost income. The loan was forgiven. My understanding is that forgiven loan is not taxable, but I'm also assuming that it needs to be reported. Where would I input this PPP loan/forgiveness information?

Thanks,

Mark

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3 Comments 3
TAXOH
Level 11

You don't need to report it.

IRonMaN
Level 15

No place - other than maybe his state return 


Slava Ukraini!
genius
Level 2

Since PPP Forgiveness is FULLY TAXABLE in some states...The question remains open...How do you report it in ProSeries?

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