I just checked my return--and the Turbo Tax generated Form was: "Schedule X--Fees and Other 5% Income Statement" and it populated with "Income from PPP Loan Forgiveness" but on my state's tax website it says:
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"I report my business income on a personal income tax return. Is my forgiven PPP loan taxable?
No, forgiven PPP loans are not taxable for personal income taxpayers, including unincorporated businesses reporting income and expenses on Schedule C, partners in a partnership, and individual shareholders of an S corporation. Recently passed legislation excludes PPP loan forgiveness from gross income for 2020 for taxpayers subject to personal income tax. Therefore, personal income taxpayers do not need to report these amounts."
**Could someone from TurboTax please respond about this error, and give guidance on what I should do now that my return has been filed incorrectly due to TurboTax incorrect prompts.**
Thank you
