Since the loan is forgiven, then you won't report it as taxable income in TurboTax. Use Schedule M-1 or M-2 in TurboTax to reconcile your books to your corporate income tax return. It is book income, not taxable income, so the adjustment will reconcile the difference in reporting. For Federal purposes, the expenses incurred using the PPP loan funds are deductible expenses on your business return. @donnabean40
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