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Returning Member
posted Sep 13, 2021 8:01:50 AM

Are PPP loans taxable at the state or federal level on S Corps?

0 2 191
2 Replies
Level 15
Sep 13, 2021 8:59:51 AM

Forgiven PPP loans are NOT taxable income on any return.  

Returning Member
Sep 13, 2021 9:04:28 AM

Are they not incomes to share holders of S Corps at the end (assuming that company made money using the PPP loan)?  Should they be included in Schedule K?