popfizz
New Member

Where should I be adding my PPP and restaurant revitalization fund on form 1065? They are both non-taxable income grants but the proceeds can be deducted.

Do I enter it on line 7 of the 1065 partnership return or should I add it as other tax exempt income (line 18b)?  Again, the rules say that the expenses incurred and paid for with the fund are tax deductible.