How to enter forgiven PPP loans for individual returns
Forgiven PPP loans are considered “Other Tax Exempt Income” for federal purposes and will be reported on Schedule K-1 box 16B (S-corporations) or 18B (partnerships). Forgiven PPP loans and EIDL grants are considered “Other Tax Exempt Income” for federal purposes and will be reported on Schedule K-1 box 16B (S-corporations) or 18B (partnerships). We provide …
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