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    Forgiveness of PPP Loan

    Jill_Duncan
    Level 2
    ‎01-23-2022 10:06 AM

    Will ProSeries be updating forms to include the statement that that a PPP Loan has been forgiven or applied for?   On page 23 of the 1040 instructions, it explains what needs to be attached to the return.

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    Just-Lisa-Now-
    Level 15
    Level 15
    ‎01-23-2022 11:01 AM

    pppschC.jpg


    ♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

    View solution in original post

    6 Comments 6
    dkh
    Level 15
    ‎01-23-2022 10:21 AM

    There is a Quickzoom on Schedule C for the PPP loan statement

    Just-Lisa-Now-
    Level 15
    Level 15
    ‎01-23-2022 11:01 AM

    pppschC.jpg


    ♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
    SOPS
    Level 2
    ‎02-02-2022 03:34 PM

    Is there something similar for 1120S and 1065 return types?

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    IRonMaN
    Level 15
    ‎02-02-2022 03:40 PM

    Not yet


    Slava Ukraini!
    dd4vols
    Level 10
    Level 10
    ‎02-09-2022 05:40 PM

    Ok... so I played around with this PPP Loan Forgiveness statement, and at the top it has RP2021-48 Forgiveness of PPP, etc.

     

    But when I enter the fields the actual statement refers to RP2021-49,,, which appears to point to a partnership entity event,  Am I crazy? or is this an issue?

    And is RP2021-49 applicable to partneships and the kind of statement we should use with them?  I know S Corps use the same RP2021-48 as individuals?

    If an answer solves your issue, click on the "Accept as Solution" button! Makes it easier for people to find answers to similar questions that have already been posted.
    Just-Lisa-Now-
    Level 15
    Level 15
    ‎02-09-2022 05:54 PM
    I just reported it over in the Lounge...someone typoed the 48 into a 49...doh!

    ♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪






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