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Best Answer Click here
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You don't.
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Non-taxable income isn't entered anywhere for a Sch C (F 1040)... unlike for entities, where there's a balance sheet to contend with.
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Thank you! That certainly explains why I couldn't find it.
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Thank you! That makes sense.
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If the PPP loan was not forgiven in 2020 then as of 12/31/2020 it would still be a liability on the books... Then in 2021 what ABCtax said is exactly correct... Just my opinion
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Thank you! Yes that is the way I understand it.
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You're welcome