Can you tell me on which line do you enter the PPP Loan that has been forgiven?
Go to Solution.
View solution in original post
From my understanding this doesn't need to be reported and therefore no line, but if you are preparing a partnership or S-corp return, then it would affect basis. For a schedule C, you don't need to do anything.
Thanks for the response. I should have stated that I am working on a SubS.
that's a M-1 adjustment.