Per instructions for 1120s and 1065 there must be an attachment with the following PPP information (see pg 34 of 1120s instructions) Protection Program (PPP) reporting. Report tax-exempt income resulting from the forgiveness of a PPP loan on this line. Attach a statement to the S corporation return for each tax year in which the S corporation is applying Rev. Proc. 2021-48, sections 3.01(1), (2), or (3). The statement should also include the following information for each PPP loan.
1.
The S corporation’s name, address, and EIN;
2.
A statement that the S corporation is applying section 3.01(1), (2), or (3) of Rev. Proc. 2021-48, as applicable;
3.
The amount of tax-exempt income from forgiveness of the PPP loan that the S corporation is treating as received or accrued during the tax year; and
4.
Whether forgiveness of the PPP loan has been granted as of the date the return is filed
We attached a PDF file with all requirements as "other" (the only available option) and the return was rejected based on that attachments with the type "other" are not supported. How do I attach a document that is required if it will be rejected?
I also wonder why there is a supported statement for 1040 sch C, E and F but not the 1120s and 1065 in the Proseries software.
This discussion has been locked. No new contributions can be made. You may start a new discussion here
The PPP Loan Forgiveness Statement is available in the 1120-S I am preparing today.
You have clicked a link to a site outside of the Intuit Accountants Community. By clicking "Continue", you will leave the community and be taken to that site instead.