That is correct on the FEDERAL return. But not the NC state return. For NC, one has to add back to income the expenses written off on the federal return (taking...
Makes sense, of course, for FEDERAL tax return. But the CARES Act would not address NC taxing the forgiven amount, per the link above.I'm confused. Am I reading...
I'm confused. The NC-K1 I got from our accountant has the loan forgiveness amount on Line 2 Additions to income. But I see no way to enter this in TT.This NC.go...
What about entering a NC K-1 (Line 2) PPP Loan Forgiveness (for 2020)? This doesn't carry through from the federal K-1, and there's no where to enter the NC inf...
