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csanchez
Level 5
April 10, 2022
Solved

Are the expenses reported for PPP loan forgiveness tax deductible?

  • April 10, 2022
  • 1 reply
  • 20 views

PPP Loan disbursed in 2021 and forgiven in 2022. Are the expenses used for PPP loan forgiveness still deductible on Schedule C for the business?

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1 reply

dkh
dkhAnswer
Level 15
April 10, 2022

see if this information helps    https://www.irs.gov/newsroom/eligible-paycheck-protection-program-expenses-now-deductible

    C
    csanchezAuthor
    Level 5
    April 10, 2022

    Thank you!

    dkh
    dkh
    Level 15
    April 10, 2022

    You're welcome.   I'll be happy for a tax year without all these "extras" to deal with.

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