PPP loan forgiveness staement

[Thebandit]

Will proseries be updating the 1120s for PPP loan forgiveness statement?

[Just-Lisa-Now-]

Theyre working on it.  I brought it to the attention of Moderators last week that it was missing for the 1120 and 1065 modules, you can grab a sample of what it should say from the Sch C, and you could type your own and attach if you dont want to wait.

[dkh]

How could that have been missed ???   Doesn't Intuit employ any tax professionals for consulting on the tax programs ?

[Just-Lisa-Now-]

I dunno. I asked where we could find the statement in the business entity returns and nobody could find it, so they bumped it up the line in development.

[Thebandit]

I was thinking about doing it myself, but hopefully it will be done timely.

[MobileTaxGuy]

I tried doing it myself, attaching the statement as a PDF, but the IRS rejects it upon e-filing.

[MobileTaxGuy]

They just added it under Miscellaneous -> Other misc forms -> PPP Loan Stmt

[dd4vols]

OR... if you click on the Forms Icon,,,and scroll all the way to the right...it's the very last form listed.

BUT, BUT, it still has rev proc 2021-48 (which is correct) as the title of the statement, BUT BUT when the statement prints, it references rev proc 2021-49 (which is incorrect). It's been brought to the programer's attention... but no correction yet.

OOPS my bad..was stuck in a 1040 world...please disregard...

[dkh]

PPP Statement for 1120S and 1065 - Intuit Accountants Community