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ppp grant

Level 1

can a partners net income form schedule K-1 count as income for the PPP Loan

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2 Replies 2

There are still many questions to be answered about PPP's. One of the questions sent to SBA is whether guaranteed payments to partners will qualify as payroll compensation- not sure yet. It would be unlikely the net income from the K-1 would be included as compensation, but we don't know. Since there are limited funds available, it doesn't hurt to apply now, and work out the details in underwriting. 

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Level 15

PPP is a LOAN, with a potential forgiveness component.  It is not a grant.  There IS a difference.

Former Chump..umm... AllStar.
"the game of life is hard to play"

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