I was checking on the paycheck protection program

Forum|Forum|6 years ago
April 30, 2020
1 reply
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TurboTax Live Self Employed

Don P Sr

Level 2

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

JamesG1

Level 15

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.

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I was checking on the paycheck protection program

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