Which categories should be used for PPP accounts in 1120S filing?

zipswich · ‎March 15, 2021

In my QuickBooks, I have two accounts to handle the PPP loan:

1. PPP (loan).

2. PPP Loan Forgiveness (payment for the loan)

When I use Turbotax Business to import QB data, it asks to choose which category they are for:

Could anyone offer a tip on this?

ThomasM125 · ‎March 15, 2021

Income on the books not on return would be the correct response for the PPP income.

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ThomasM125 · ‎March 15, 2021

Income on the books not on return would be the correct response for the PPP income.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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