I believe the PPP forgiveness is also a TT issue and shortfall for the following reason:
The IRS requires certain information relating to the loan forgiveness be provided in an attachment that accompanies the tax return as stated in the Schedule 1040 Instructions (Page 23) under Income for Self-Employed individuals (my area of interest). There's a similar requirement mentioned in instructions for Forms 1120 (S Corps) and 1120-S (C Corps). There's no prompting of this requirement within TT and no means to have this attachment contained within the electronic filing of the returns through TT. The PPP forgiveness is tax-exempt, but we do have a reporting requirement as a recipient and tax filer. Back to TT for an explanation and hopefully an update to the software.
