PPP FORGIVENESS

[buscemicpa]

HAVE THEY RULED YET ON THE TAX TREATMENT  FOR S CORP'S WITH PPP IN 2020 AND FORGIVENESS IN 2021 . FOR 2020 DO YOU REPORT THE PPP AS A LOAN OR AS TAX FREE INCOME THEREFORE INCREASING THE BASIS OF THE SHAREHOLDERS

[IntuitTaxGuy · Accepted solution]

This article should help you.

https://proconnect.intuit.com/community/business-income-taxes/help/how-to-enter-forgiven-ppp-loans-i...