Hello, I am a sole prop and received a PPP loan in 2020. Then in 2021 I applied for forgiveness. In my case, should I report the PPP loan as the tax-exempt income in 2020 tax return? If so, then I have to fix an amendment for the 2020 return. It seems that turbotax didn't have PPP loan input for the 2020 tax year when I filed.
Or can I just report it in the 2021 tax return (the year of forgiveness)?
