Vanessa A
Expert Alumni

Business & farm

If you received a PPP Loan at all you can answer yes.  The following questions will then determine if it has anything to do with your current tax year such as do you still need to pay it back or apply for loan forgiveness or is it taxable income. 

If you 100% know it is not relevant to your taxes this year, you can answer no. 

IRS advises that improperly forgiven Paycheck Protection Program loans are taxable

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