TurboTax Home & Business software is reducing my miscellaneous expenses by the amount of my PPP loan. Why?
I have several line item expenses entries in the "other miscellaneous expenses" section. The value that gets presented in the summary for the "other miscellaneous expenses" category is less than the sum of the individual expense entries. The difference is exactly the amount that I entered for the amount of my PPP loan.
I have read that expenses paid with PPP funds are fully tax deductible.