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Level 4
January 23, 2022
Question

PPP loan worksheet

  • January 23, 2022
  • 1 reply
  • 9 views

I found answer to previous quesiton about filling in the ppp loan forgiveness worksheet....

But now I find that I have client that both spouses applied for loans....one on Sch C and two on Schedule F.

When I went to Sch C and fill out the form it processed and everything was great.

Then went to Sch F and farmer client filed for a first draw in 2020 and it was approved. Then he applied for second draw in 2021 and when I go to worksheet it won't let me fill out because it combined the Sch C and the Sch F onto one form.  

Should I combine the amount received  from both spouses in 2021 and put on the shc C? Seems maybe ProSeries needs to add additional worksheets to combine to one.

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    1 reply

    The_AntiTax_Man
    Level 7
    January 25, 2022

    @bheizer   Thanks for the heads up.