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PPP Loan forgiveness
Hi
I had a PPP loan in 2020 that was in process of being forgiven but it was not fully forgiven in 2021 but this happened after I filed my 2020 1120S . I entered all the loans under tax exempt income on line 16 on my 2020 1120S. I also had a second PPP loan in 2021 that was fully forgiven. My question is where do I enter the forgiven amount of the loans from 2020 and 2021 and how do I enter the loan payments I am making on the unforgiven amount?
‎January 10, 2022
9:31 AM