I am having the same problem. I am a S-Corp and file an 1120s. I received a PPP loan and it was forgiven. Although it is not included in my net income it does affect my balance sheet. There needs to be some sort of adjustment on 1120 Schedule K so that the forgiven loan amount does not pass through to me as a shareholder. I tried calling TT and the woman I spoke too knew even less about business taxes than I do. And that's not alot!
HELP
