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sffdib
Level 5
March 9, 2021
Question

PPP loan forgiveness

  • March 9, 2021
  • 1 reply
  • 8 views

For state of California, regarding the PPP loan forgiveness. Is the amount taxable? Are expenses tax deductible? If not, how do we calculate what expenses are or are not deductible? 

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1 reply

abctax55
abctax55
Level 15
March 9, 2021

I suggest you visit Spidell's website for all updated info regarding how CA is treating/may treat PPP loans.

And signing up for their flash alerts/emails is a great idea for anyone doing CA returns.

https://www.caltax.com/forums/forum/message-board/

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