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Get your taxes done using TurboTax
If you are a sole proprietor filing a Sch C then the PPP loan was NOT to be reported as income and the forgiveness is not reported anywhere ... it is treated as a non issue. However, all the expenses it paid for ARE allowed as an expense on the Sch C. One of those weird quicks in the tax law.
‎September 10, 2022
8:25 AM