There is an additional problem when the yet to be forgiven loan on the Federal form shows as an L/T liability yet the CA state forms count the PPP loan as currently taxable "other income". Now the CA balance sheet doesn't match the Fed. Is TT certsin that California does not allow the same forgiveness as the Federal? Can this be reconciled in notes to next year's M1/M2 section or should amended 2020 forms be used?
