Thank you for answering! I did check that out and I had answered it "No". You just made me think harder now and I wonder if it's because I'm trying to figure out where to park the fact that the PPP loan was forgiven and apparently that's tied in with the shareholders which sets off a new set of problems with shareholders. I found a reference that says "The instructions for Form 1120S provide that the tax-exempt income from the forgiveness of PPP loans should be reported on Line 16b of Schedule K, Form 1120S and Schedule K-1 of Form 1120S". Do you happen to know if that's true? I found a statement on TurboTax that's called "Rev. Proc. 2021-48" "Forgiveness of Paycheck Protection Program Loans." "Applying section 3.01(3) of Rev. Proc. 2021-48 for taxable year 2021. Tax-exempt income from PPP forgiveness treated as received/accrued: $33020. Forgiveness of the PPP loan has been granted as of the date the return is filed." It was actually forgiven in March 2021 but I thought it would OK to put the other choice. Do you know about this? Either way, I GREATLY appreciate you trying to help me. Thanks so much!!
