That's similar to what I planned to do. I think what matters is the result, which is PPP is nontaxable for federal.

I put PPP1 in the 2020 section and PPP2 in the 2021 section since I wanted to separate two PPP loans. I treated both of them as tax-exempt income in 2021 based on different rules-PPP1 is as forgiveness was applied in 2021 and PPP2 is as expenses were paid in 2021. So I need two different boxes.