sffdib
Level 5
‎03-11-2021 12:29 PM

Detail instructions on how to treat PPP loan forgiveness on California return? Loans have not been forgiven yet. Do we exclude 60% of payroll and 40% of utility and rent? Do we add an amount to income for the total?

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IntuitAngela_13
Employee
Employee
‎03-11-2021 12:52 PM

Thank you for your question!

Here’s an article on entering PPP loads and EIDL grants in ProSeries. 

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sffdib
Level 5
‎03-11-2021 01:02 PM

Thanks, but this does not answer my question. The article says:

  • State adjustments may be needed if the return includes a state that doesn't conform to federal guidelines.

My question was how do we treat the PPP loan for state that do not comply with federal, California in this case. 

 

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