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AJMANNING
Level 2

PPP LOAN

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

posted
‎March 10, 2021 10:44 AM
last updated ‎March 10, 2021 10:44 AM
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MinhT1
Employee Tax Expert
Employee Tax Expert

PPP LOAN

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.

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‎March 10, 2021 11:04 AM
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