PPP loan forgiveness statement for S corp returns?

Forum|Forum|4 years ago
February 1, 2022
7 replies
30 views

Will the 1120S have the required PPP loan forgiveness statement ready anytime soon or do we need to add by hand to all these returns? If its available on your 1040 it needs to be available on the entities returns. What’s the plan!?!?!

ProSeries Professional

This topic has been closed for replies.

Best answer by taxiowa

I made a dummy 1040 file called PPP. In it is a schedule C with PPP attached. I just over-ride heading with S-corp or p-ship name and EIN, put in amounts and print to pdf. I attach this pdf to return as other attachment.

E

Ephesians3-14

Level 7

There is a statement that needs to be attached to the corporate or partnership tax return? Didn't know that.

taxiowaAnswer

Level 8

I made a dummy 1040 file called PPP. In it is a schedule C with PPP attached. I just over-ride heading with S-corp or p-ship name and EIN, put in amounts and print to pdf. I attach this pdf to return as other attachment.

L

lisaw1Author

Level 3

This is a super smart idea thank you!!!

taxiowa

Level 8

Make sure you rename it to something with s-corp name and ppp stmnt before sending. I think eventually Proseries will have an attachment in those modules but until then I am covering my arse.

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