Thank you! Yes, I am a sole prop filing schedule C. Are you saying I don't even need to attach any info related to PPP loan to my return? Just treat it the same as never being existing?
I saw the following from internet. Can you confirm that it is not applicable for a sole prop filing Schedule C?
Taxpayer Statement
In accordance with Rev. Proc. 2021-48, the 2021 instructions to Forms 1040, 1041, 1065, 1120, and 1120-S require taxpayers that recognize tax-exempt income from a forgiven PPP loan to attach a statement to the taxpayer’s tax return for each tax year in which the tax-exempt income is recognized. The statement should include the following information for each PPP loan:
- The taxpayer’s name, address, and EIN or SSN;
- Which section(s) of Rev. Proc. 2021-48 the taxpayer is applying (section(s) 3.01(1), (2), or (3));
- The amount of tax-exempt income from forgiveness of the PPP loan that the taxpayer is treating as received or accrued during the year; and
- Whether or not forgiveness of the PPP loan has been granted as of the date the return to which the statement is being attached is filed.
