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- PPP Loan Forgiveness Schedule 'C'
PPP Loan Forgiveness Schedule 'C'
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triman
Level 1
03-27-2022
09:55 PM
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I have a client that received PPP Loan forgiveness on a closed Schedule 'C' Business with no 2021 expenses. How is this reported? My client is located in Utah which is a non-conforming state. Must that be reported as State Income?
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Just-Lisa-Now-
Level 15
03-28-2022
08:52 AM
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If UT taxes forgiven PPP loans, then yes, youd have to file a state return.
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