2021 Form 1040 PPP loan forgiveness statement

[PATAX]

I could swear that I read a few weeks ago about a statement that should be attached to a 2021 Form 1040 with PPP loan forgiveness... I searched and I cannot find that link to  aforementioned statement... If any other of my fellow colleagues can find that, then it may be of benefit to others to post it here... Thanks, and Happy New Year to All...

[IRonMaN]

You really shouldn't swear like that.  Especially if women and children are in the room.

I had not seen that, but I also wasn't looking for more trouble like that either.

[qbteachmt · Accepted solution]

Page 23 of 1040 instructions:

https://www.irs.gov/pub/irs-pdf/i1040gi.pdf

Right under the Income heading. Is that it?

[PATAX]

Thanks qb you are ☝. That is exactly what the article that I saw referenced.. I am glad you found that, because I thought I might be starting to lose my mind... I get a lot of old TV shows on my TV, and I thought I might have been watching too many episodes of Lost in Space with Dr. Smith and the Robot...

[TaxGuyBill]

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@PATAX wrote:

 I thought I might be starting to lose my mind...

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I would never think I was losing my mind ... I never had one to begin with.   🤣

[PATAX]

Iron Man, I try not to swear too much and I don't think I ever swear in front of women or children... But due to our occupational environment and the Rocket Scientists that we have to deal with, I think we all occasionally break that commandment.... I think even Gandhi would swear if he was in our shoes...😉👞👟🥾

[IRonMaN]

Nice shoes.  Do you have them in a 9-1/2?

[PATAX]

That is exactly my size also!... When I wear boots, I may go up to size 10, since I wear thick socks in boots..

[DUDE1]

Is Lacerte going to provide input fields for the required disclosure statement, perhaps in screen 13 for the 1120S module, or should I expect to prepare myself in screen 39 as a federal supplemental information?  

[E AND M]

Hello,

Is the statement to be attached required for1040 to be e-filed or is it for those who do paper file?

Thank you

[PATAX]

@E AND M I believe it is for every 1040 filer regardless of whether it is e-filed or paper filed by the client. Just my opinion.

[DUDE1]

If the taxpayer had a PPP loan forgiven, it is required regardless of filing method.  Review the 1040 instructions for disclosure info.

[E AND M]

Thank you

[PATAX]

You're welcome