Things are changed. Please read the latest from the California government:
https://www.ftb.ca.gov/about-ftb/newsroom/covid-19/faqs-for-paycheck-protection-program.html#:~:text....
Unfortunately, at this moment (Sept 5, 2022), the TurboTax Business is still not using the latest info. This causes people to pay more taxes. I hope Intuit can do its job better. Of course, making people pay more taxes is always safe to favor the government :(
The important change is:
The PPPEA extends the covered period of the PPP to June 30, 2021. California law conforms to this extension and allows an exclusion from gross income for PPP loans made during the extended covered period after March 31, 2021 through June 30, 2021.
