A client in 2020 applied for a PPP loan for $10,000. & Only 7,000 was forgiven by SBA. How do I handle the 3,000 amount that was not forgiven? The customer paid the 3,000 but then the bank returned this to the customer.
- Spanish assistance preferred, but not required.
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"The customer paid the 3,000 but then the bank returned this to the customer. "
This sounds like it was forgiven then.
What type of return are you preparing?
It is LLC
It's tax exempt income.
Thank you!!
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