@AliciaP1 I'm still jumping through PPP hoops! There's a question on the 1120-S tax return page 3 question 12 that asks "During the tax year, did the corporation have any non-shareholder debt that was canceled, was forgiven, or had the terms modified to as to reduce the principal amount of the debt? "No" was automatically checked but the "Yes" box is blue. I've learned NOT to assume anything and we ARE shareholders so I would think the answer would be "No" BUT I'd like your opinion on it. I'm sorry to ask so many questions but this is so tricky since I've never done this before. Thanks so much for your time!!
