- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Self employed
If your PPP loan was forgiven, then you don't report it as income on your tax return. If you used the funds for qualifying expenses, they are deductible as they would be otherwise.
Please see Reference for more information: https://turbotax.intuit.com/tax-tips/small-business-taxes/the-payroll-tax-credit-and-other-stimulus-...
Also, be on the look out for any tax documentation sent to you regarding the grant. Follow whatever they ask you to do for your tax return.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎October 27, 2021
9:58 AM