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How do I show tax-exempt forgiven PPP

Dean2
Level 2
The tax-exempt income does not flow through to Schedule M, line 3
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6 Comments 6
itonewbie
Level 15

Has it been forgiven?

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Still an AllStar
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Dean2
Level 2

Yes, the loan has been forgiven.

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Dean2
Level 2

Where does it go, then?  The LA balance sheet does not balance because Earned Surplus is understated by the amount of the PPP & EIDL grant.

lifeisgood
Level 1

Did you find a solution?

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brookel1027
Level 1

Following - I am also looking for the solution to this.

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Heazie
Level 1

Any updates on this?  I'm having the same issue.

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