https://ttlc.intuit.com/community/business-taxes/discussion/is-the-interest-accumulated-on-a-forgiven-ppp-loan-deductible/01/2027661#M67327 <P><SPAN>Should I treat the accumulated interest of a PPP loan as of December 31st as an expense for tax purposes?&nbsp; The loan and interest was forgiven in 2021 so it seems odd to count it as an expense since nothing was paid.</SPAN></P> Thu, 04 Mar 2021 19:26:49 GMT SmallBizOwner2006 2021-03-04T19:26:49Z https://ttlc.intuit.com/community/business-taxes/discussion/is-the-interest-accumulated-on-a-forgiven-ppp-loan-deductible/01/2027661#M67327 <P><SPAN>Should I treat the accumulated interest of a PPP loan as of December 31st as an expense for tax purposes?&nbsp; The loan and interest was forgiven in 2021 so it seems odd to count it as an expense since nothing was paid.</SPAN></P> Thu, 04 Mar 2021 19:26:49 GMT https://ttlc.intuit.com/community/business-taxes/discussion/is-the-interest-accumulated-on-a-forgiven-ppp-loan-deductible/01/2027661#M67327 SmallBizOwner2006 2021-03-04T19:26:49Z https://ttlc.intuit.com/community/business-taxes/discussion/re-is-the-interest-accumulated-on-a-forgiven-ppp-loan-deductible/01/2027782#M67331 <P><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">As you did not pay the accrued interest on the PPP loan, you cannot deduct it as a business expense.</SPAN></SPAN></P> Thu, 04 Mar 2021 19:42:38 GMT https://ttlc.intuit.com/community/business-taxes/discussion/re-is-the-interest-accumulated-on-a-forgiven-ppp-loan-deductible/01/2027782#M67331 MinhT1 2021-03-04T19:42:38Z