JamesG1
Expert Alumni

Business & farm

It is very confusing.  DianeW777 has correct information above.

 

Did you receive one loan or more than one loan?  Was the PPP forgiven in 2020 or 2021?  If forgiven in 2021, in some cases, you had the option to report it as forgiven in 2020.  Did you report the PPP as forgiven in 2020?  Please clarify.

 

For background, Instructions for IRS Form 1065 refers to the PPP program on page 1, page 35 and page 43.

 

 

 

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