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Business & farm
I input our PPP loan in 18(b) on schedule K. I used the entire PPP loan on payroll. I am getting a loss for the year as my bottom line but I DO NOT technically have a loss due to the loan. How do I allocate it / record it on the tax forms so I no longer show a loss? Or is the loss correct? Sure doesn't seem right.
March 13, 2021
8:12 AM