SP-Jenn
Level 1
Member profile
- Replies
- Posts
-
Correction: Originally, I had recorded the loans as Loans Payable. Once forgiven, I debited loans payable and credited Paid-In Capital.
-
Thanks so much for your input. I will look into this. Originally, I had received PPP Loan 1 in 2020 and Loan 2 in 2021. Both were forgiven in 2021. I had record...
-
Thanks for your reply. However, that adjustment was already entered by Turbo Tax as a result of the question about whether we had a PPP loan forgiven. After the...
Activity Feed for SP-Jenn
- Cheered Re: PPP Loan Forgiveness Affect on M-1 for ThomasM125. January 26, 2022 3:17 PM
- Posted Re: PPP Loan Forgiveness Affect on M-1 on Business & farm. January 26, 2022 2:52 PM
- Posted Re: PPP Loan Forgiveness Affect on M-1 on Business & farm. January 26, 2022 2:42 PM
- Posted Re: PPP Loan Forgiveness Affect on M-1 on Business & farm. January 26, 2022 1:13 PM
- Posted PPP Loan Forgiveness Affect on M-1 on Business & farm. January 26, 2022 12:44 PM