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PPP loan forgivenss
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sffdib
Level 5
03-11-2021
12:29 PM
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Detail instructions on how to treat PPP loan forgiveness on California return? Loans have not been forgiven yet. Do we exclude 60% of payroll and 40% of utility and rent? Do we add an amount to income for the total?
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IntuitAngela_13
Employee
03-11-2021
12:52 PM
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Thank you for your question!
Here’s an article on entering PPP loads and EIDL grants in ProSeries.
sffdib
Level 5
03-11-2021
01:02 PM
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Thanks, but this does not answer my question. The article says:
- State adjustments may be needed if the return includes a state that doesn't conform to federal guidelines.
My question was how do we treat the PPP loan for state that do not comply with federal, California in this case.
