The loss is correct. The loan is non-taxable and not counted as income to your business. It only affects the partner capital account which shows on the K-1 in L...
You would put in on page 4 line 18b. The Consolidated Appropriations Act of 2020 passed on 12/27/2020 states the PPP Loan is tax free if forgiven and the expens...
I disagree with your entire statement. The law passed on 12/29/2020 made the entire PPP loan forgiven NON TAXABLE and the deductions paid with the PPP loan dedu...
