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E
eva
Level 4
February 25, 2022
Question

PPP Loan forgiveness for partnership tax returns

  • February 25, 2022
  • 1 reply
  • 6 views

There are a lot of answers and what I deduced was that the forgiven loan that is sitting in "Other Income" should be released on Line 6 in M-1.

It throws Sch L out of balance.

 

Any thought, Gurus?

 

Thank you.

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    1 reply

    dkh
    dkh
    Level 15
    February 25, 2022

    I bookmarked some threads regarding PPP loan forgiveness        

    Maybe something in one of these will help

    How to record ppp loan forgiveness on tax return - Intuit Accountants Community

    Re: PPP Loan Forgiveness - Intuit Accountants Community

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