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DJNC
Level 1
03-15-2021
12:55 PM
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Hi. Is it required to complete Schedule M2 when gross receipts are less than $250k?
Also, where are you recommending reporting the PPP Forgiveness as non-taxable income?
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IntuitMark304
Employee
03-15-2021
01:07 PM
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Please refer to applicable instructions for the form that is being completed to determine if the Schedule M-2 should be completed. For example, corporations with receipts and total assets less than $250,000 are not required to complete the Schedule M-2.
Related to the PPP loan forgiveness treatment, please refer the follow article for assistance.
