You're correct. A PPP loan is not "tax deductible" even though it is technically "income," but the IRS is not able to collect tax on it. As such, it does not get recorded anywhere in TurboTax or on your tax return. It is a balance sheet entry that goes in Quickbooks.
Here is a TurboTax article about PPP Loan forgiveness.
Here is a link to the Quickbooks community that will get you started with help on how to set that up.
@SCraigatHMG
