Josie6
New Member

Get your taxes done using TurboTax

A self-employed person who pays himself/herself from earnings of the business rather than through payroll (payroll requires employee and employer tax), cannot deduct checks written to themselves from the PPP loan.  Only the allowed expenses  (for example rent and utilities) of the business which would include payroll paid to employees or in some cases to the proprietor, can be deducted on Schedule C.  The total amount of the PPP loan is not taxable.