ppp grant

[fish19835]

can a partners net income form schedule K-1 count as income for the PPP Loan

[IntuitJim]

There are still many questions to be answered about PPP's. One of the questions sent to SBA is whether guaranteed payments to partners will qualify as payroll compensation- not sure yet. It would be unlikely the net income from the K-1 would be included as compensation, but we don't know. Since there are limited funds available, it doesn't hurt to apply now, and work out the details in underwriting. 

[abctax55]

PPP is a LOAN, with a potential forgiveness component.  It is not a grant.  There IS a difference.