Last year we had a PPP loan that was forgiven. I was told that we do not need to report the PPP loan on our tax form. But, we also do not claim the expenses. Does that mean I need to write down our payroll expense? (Our payroll was much greater than the PPP loan.) Turbotax states that payroll needs to match our W2s, so writing down our payroll expense would mess that up.
Also, we received an EIDL grant from the government. Would that be considered an owners contribution? I am having a difficult time getting the return to reconcile.
