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- Having trouble with the 1120-S M-2 worksheet and PPP loan expenses paid in prior year and included on line 1 column (a)
Having trouble with the 1120-S M-2 worksheet and PPP loan expenses paid in prior year and included on line 1 column (a)
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cpa72
Level 3
02-14-2022
05:28 PM
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The instructions are clear that if the expenses paid with PPP funds are in line 1, column (a) (opening AAA), then you have to include them on Line 3, column (a) and on line 5, column (d). In other words, deducted last year and forgiven this year.
The loan forgiveness is not the issue, but putting the above into the M-2 worksheet is giving me fits.
Any help would be greatly appreciated. Best, Sean
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