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scorpinca
Returning Member

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

 
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2 Replies

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

Forgiven PPP loans are NOT taxable income on any return.  

scorpinca
Returning Member

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

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?

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