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Get your taxes done using TurboTax
None of the PPP loan was ever considered income and the repayment of the loan was not an expense so the refund of the repayment is not reported as income. The loan and the repayment increases and decreases the liability account ... it is a bookkeeping entry and is only reported on the 1120S balance sheet if one must be completed.
‎December 21, 2023
4:51 PM
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