Where do PPP loans go on S Corp tax return?
PPP loan forgiveness is included as book income
- On the Schedule M-1 as income on books not on return.
- For an S Corporation, the amount is treated as other exempt income.
- On Schedule K, line 16b.
- On Schedule K-1, Box 16B.
- On the Shareholder's Basis Worksheet, Page 1, Line 7.
