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Level 2
posted Mar 10, 2021 10:44:33 AM

PPP LOAN

Where/how do I report a PPP loan on a 1065 Partnership LLL form?

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1 Replies
Employee Tax Expert
Mar 10, 2021 11:04:08 AM

The PPP loan is not taxable and you do not report it as income.

 

If the loan is not yet forgiven at the end of the year, it is reported as a liability on the balance sheet (Schedule L) on line 18 - All nonrecourse loans.