ppp grant

fish19835 · ‎04-09-2020

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

IntuitJim · ‎04-09-2020

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.

abctax55 · ‎04-09-2020

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

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ppp grant

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