We received a 2020 PPP loan that all was used to c over Payroll in S-corp. The loan was forgiven March 2021.
We filed Federal and Hawaii State tax returns for S-corp and Individual for 2020 in mid-April 2021 -
before Hawaii made decision not to allow deductions covered by PPP loan to be allowed in the State
return.
New are now instructed to file an amendment. I am lost. Do I first amend Hawaii S-corp return to reflect
that loan covered payroll (wage and taxes, medicare, Social security?) and change the P&L, BS?
Then amend Individual return?
Does TT have an expert to help me with Hawaii State situation? 2020 is the first time I filed all tax returns via TurboTax Live.
