Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

PPP Loan Forgiveness

Ken59711
Level 1

On MN S-Corp Schedule KS Totals for MN Non Conforming Items, the entry for Paycheck Protection Program requires a negative entry on the form (Line 1).  Should not that entry be positive?

0 Cheers

This discussion has been locked. No new contributions can be made. You may start a new discussion here

3 Comments 3
IRonMaN
Level 15

@Orlando 

Ken makes an interesting point.  PPP loan forgiveness currently is an add back to income for Minnesota.  However, the form does not allow you to enter a positive number, only a negative number can be entered (schedule KS page 2 line 1).  This results in a subtraction from income instead of an addition.  Can you shed any light on this issue?


Slava Ukraini!
Orlando
Intuit Alumni

I've asked those in the know.. stay tuned.  

IRonMaN
Level 15

Thanks!


Slava Ukraini!
0 Cheers