Randall Posted March 22, 2021 Report Posted March 22, 2021 11 hours ago, cbslee said: I would not answer this question, yes. i believe the context of this question is about forgiveness of loans which trigger Other Income that is taxable. As we have discussed in other threads, I would handle this as an M-1 adjustment. I was wondering if it would trigger something. This whole ppp thing is another world. Quote
JohnH Posted March 22, 2021 Report Posted March 22, 2021 11 hours ago, Randall said: I was wondering if it would trigger something. This whole ppp thing is another world. And we haven't even started a conversation about claiming losses and basis limitations for S-Corporation shareholders. Some VERY interesting & unusual stuff can take place in that space. 1 Quote
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