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    If PPP loan interest is forgiven, can the interest expense be deducted?

    Cassandra
    Level 1
     
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    IRonMaN
    Level 15

    Yes, but you didn't pay any interest.


    Slava Ukraini!

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    3 Comments 3
    IRonMaN
    Level 15

    If it is forgiven, what expense do you have?


    Slava Ukraini!
    Cassandra
    Level 1

    Expenses paid with PPP loan proceeds are deductible. 

     

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    IRonMaN
    Level 15

    Yes, but you didn't pay any interest.


    Slava Ukraini!