The PPP loan is not reported on your return as income except as the Other Permanent Income Item as listed in my previous post.
Per the IRS Instructions for Form 1120S, Schedule K & K-1 for Line 10 Code H Other Income (Loss):
When you complete the information on the Schedule M-1 worksheet, Schedule K and K-1 are appropriately populated for the tax-exempt income.
@DD-DB111
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