No, you only need to report the PPP loan forgiveness once. A borrower can apply for forgiveness once all loan proceeds for which the borrower is requesting forgiveness have been used. Thus, we are assuming you have exhausted all of your loan proceeds. If you have already used up your PPP loan proceeds and reported/requested loan forgiveness on your 2021 tax return, then there is nothing more for you to report.
Borrowers can apply for forgiveness any time up to the maturity date of the loan. If borrowers do not apply for forgiveness within 10 months after the last day of the covered period, then PPP loan payments are no longer deferred, and borrowers will begin making loan payments to their PPP lender.
@nflink1
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
