As long as you reported the forgiveness in 2021 and you didn't have any PPP loan forgiveness in 2022, then there is nothing to report for 2022. If it allows you to skip then skip.
Yes, there were some loans that did not get complete forgiveness until 2022 so the question still remains. If it does not pertain to you, you should answer No that you did not have a PPP loan forgiveness in 2022.
As long as you reported the forgiveness in 2021 and you didn't have any PPP loan forgiveness in 2022, then there is nothing to report for 2022. If it allows you to skip then skip.
Where on my 2021 return would it show if I did report it? And why does it matter when it is not taxable?
A forgiven PPP loan is tax-exempt, meaning it does not cause you to recognize a taxable gain or income. The IRS has clarified that expenses paid for using forgiven PPP loan proceeds are still deductible as well.
The program's purpose was to help businesses keep their workforce employed during the crisis. If taxpayers meet certain requirements, the loans are forgiven. Generally, forgiven loans are taxable as discharge of debt income. However, a taxpayer may exclude from income the cancelled amount of an eligible PPP loan.
Sorry, I should have been more clear. I understand that it shouldn't be taxable, but ran across a question in 2022 turbo tax that started me down that rabbit hole.
In 2022 TurboTax, under Miscellaneous Income, there is a question about PPP loan forgiveness dates, so I assume I just don't fill out that section in TurboTax? If you answer that you did have loan forgiveness in 2020 or 2021, you can't skip the question, but you can skip the entire section. I want to make sure that it is ok to do so.
Yes, there were some loans that did not get complete forgiveness until 2022 so the question still remains. If it does not pertain to you, you should answer No that you did not have a PPP loan forgiveness in 2022.