We received PPP money in 2020. It was forgiven in March of 2021. After researching it and asking questions to the community, I entered it as a liability (SBA PPP Loan) on the 2020 S-Corp business taxes as it was not forgiven yet. It showed up on Schedule L, line 21. It was used for payroll. The tax return was accepted. Now on 2021 Turbotax Business (we have a small 2 employee S-corp) it generated a "Weighted Average Ownership Percentage Worksheet. " We've had this business since 1987. We had a partner that left in 1988. That is the only time shares were generated. I'm trying to figure out how to properly fill out the form. I would greatly appreciate any advice. Thanks in advance.
