We received a 2020 PPP loan that all was used to c over Payroll in S-corp. The loan was forgiven March 2021.
We filed Federal and Hawaii State tax returns for S-corp and Individual for 2020 in mid-April 2021 -
before Hawaii made decision not to allow deductions covered by PPP loan to be allowed in the State
New are now instructed to file an amendment. I am lost. Do I first amend Hawaii S-corp return to reflect
that loan covered payroll (wage and taxes, medicare, Social security?) and change the P&L, BS?
Then amend Individual return?
Does TT have an expert to help me with Hawaii State situation? 2020 is the first time I filed all tax returns via TurboTax Live.
Yes, I already tried to talk to a TT expert CPA, who could not help me because I did S-Corp taxes with TurboTax Business. She said she could only help with personal return. However, she did not know too much about Hawaii rules or how to actually Amend the Hawaii return. She told me to try to amend S-Corp first, then come back.
For me, it feels now that I spend too much time in TT (trying to find answers and guidance online, trying to have chat / phone call with experts who seem not to be able to give detailed instruction)
I am going to hire a CPA who deals with Hawaii matters.