turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

jkraz1984
Returning Member

PPP Question on Turbo Tax 2024

Turbo Tax 2024 is asking the following questions regarding PPP income and forgiveness: See Screenshot below

I received a PPP in 2020.  I applied for and received forgiveness in March of 2021.  I filed my 2020 tax return in april 2021.  Do I report this under 2020? or 2021?

When they ask whether forgiveness was granted as of the date return was filed, are they speaking of my 2020 return?

Why are they asking this 4 to 5 years later?  Why is it so poorly worded?

 

Screenshot 2025-03-24 153106.png

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
PatriciaV
Employee Tax Expert

PPP Question on Turbo Tax 2024

If you were granted forgiveness and reported this on a prior year return, go back the PPP Loan question and answer "no" for your current year return. 

 

This option is available for business that have not yet reported PPP Loan Forgiveness.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question