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forgiven PPP loans on Schedule M-2 for 1120S
I am a single owner of S. Corp. I got forgiven PPP loans in 2020 and 2021.
My both PPP loan amount was $10,000. Now my schedule M-2 line 6 col(d) and line 8 col(d) show $20,000.
I took distribution $13,000 in 2021 that included 2020 forgiven PPP loan amount $10,000.
My question is do I need to input my distributions separately on schedule M-2 line7, col(a) 3,000 and col(d) 10,000?
Or it doesn't matter?
Thank you very much in advance!
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‎January 31, 2022
10:29 AM