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Joanne2
Level 2
03-12-2021
10:45 AM
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I am filing an 1120S for which I am not required to have a balance sheet. How to I show PPP information? I am in the process of having the loan forgiven. Any help is greatly appreciated
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1 Comment 1
sjrcpa
Level 15
03-12-2021
11:44 AM
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It is a balance sheet liability, whether or not you're presenting the balance sheet.
Now for state, who knows if you can deduct the related expenses? Each state is different. You'll need to research.
The more I know, the more I don't know.
