PPP loans are forgiven. Deductions are allowed. Do I need to show forgiven loan amounts. My financial reflects non taxable income, the PPP loan. Do I need to show the forgiven PPP loan on the corporate tax return.
You need to show it on the return as a reconciling item between book income and taxable income.
Here is your Help article:
https://proconnect.intuit.com/community/corporation/help/how-to-enter-forgiven-ppp-loans-in-lacerte/...
Got it
Thanks.
