bm
Level 3
02-22-2022
06:19 PM
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PPP Loan Income is taxable as other income in 2021. Now on IRS I found this https://www.irs.gov/pub/irs-drop/n-20-32.pdf
Best Answer Click here
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rcherenson
Level 4
02-22-2022
06:51 PM
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Taxable? Proseries has the click through box on the info page to report PPP loans and status and it is not taxable.
CJR
Level 3
02-22-2022
06:55 PM
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Notice 2020-32 was deemed obsolete by Rev Ruling 2021-2 (link below) PPP forgiveness is non-taxable income
IRonMaN
Level 15
02-23-2022
08:59 AM
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You can find out a million things on the internet. However, unless you find the most recent million things, you might be looking at outdated information. So I will second Dwight's motion.
Slava Ukraini!
