Received a Schedule K-1. Shows Ordinary Income in Box 1 (includes the PPP loan amount). In Box 16 it shows Code B (Other Tax Exempt Income) and amount of PPP Loan. In TurboTax 2021, the program shows the full Ordinary Income amount from Box 1 of the Schedule K-1 [Schedule 1 1040 - Line 5 to Form 1040 Line 8] and the PPP Loan amount (forgiven tax exempt income) does not appear to be reported anywhere in the return. Is there a place I need to make an entry for Other Deductions to decrease the Ordinary Income amount from the K-1?
