I am the original poster and this was my first post ever.  I wish I could have a do-over.

When I said Schedule C, line 31, I meant that as a starting point, not the final product. To that amount,  of course, would be added health insurance, retirement plans and other items allowable.

To re-state the question, once the amount of the loan is established (1/12 of something x 2.5), how much is eligible for forgiveness?  The SBA says 1/52 of annual compensation x 8 weeks. 

That does not compute to the amount loaned.

That is about 75% or so of the first calculation.

Which amount can be expected to be forgiven?

What kind of documentation would be required to show that the loan proceeds was spent on "owner compensation replacement? A canceled check marked "withdrawal"?