How to report the anticipated loan forgiveness amount on the 1120S as tax-exempt income?

[IRonMaN]

If it is "anticipated", it isn't income.  When it actually is forgiven, then you have tax exempt income ------- at least for federal purposes.

[itonewbie]

This discussion may also help, when it is actually forgiven?

https://proconnect.intuit.com/community/proseries-tax-discussions/discussion/ppp-loan-taxability-is-...