topic I was checking on the paycheck protection program in Get your taxes done using TurboTax

I was checking on the paycheck protection program

MRKmac0106 — Thu, 30 Apr 2020 15:08:42 GMT

Re: I was checking on the paycheck protection program - Hw do you claim the forgiveness?

Don P Sr — Tue, 02 Mar 2021 14:34:24 GMT

Re: I was checking on the paycheck protection program - Hw do you claim the forgiveness?

JamesG1 — Tue, 02 Mar 2021 18:18:35 GMT

The Paycheck Protection Program (PPP) was created by the CARES Act and has been a very complicated to follow in less than a year. This TurboTax Help is useful.

Under certain criteria, and if you use the funds as directed by the SBA, the loan may be completely or partially forgiven. .

Reported on an 1120S, it is reported as tax-exempt income and may require an adjustment on the M1.