TAXMAN Posted August 2, 2022 Report Posted August 2, 2022 Does anybody know where in ATX we can report the PPP loan forgiveness? For some reason I can't find it. Quote
Bart Posted August 2, 2022 Report Posted August 2, 2022 What type of entity got the PPP forgiven? 2 Quote
TAXMAN Posted August 2, 2022 Author Report Posted August 2, 2022 Sole Proprietor filing Sch C only. Quote
TAG Posted August 3, 2022 Report Posted August 3, 2022 Wht are the reporting requirements for the PPP forgiveness for a partnership ie, form 1065? Quote
Bart Posted August 3, 2022 Report Posted August 3, 2022 It is an schedule M-2 adjustment. Income on the books not included in the tax return. 2 Quote
BulldogTom Posted August 3, 2022 Report Posted August 3, 2022 @Bart You are very wise. Tom Longview, TX 2 Quote
Lee B Posted August 3, 2022 Report Posted August 3, 2022 5 hours ago, Bart said: It is an schedule M-2 adjustment. Income on the books not included in the tax return. By your wording I assume you mean a Schedule M - 1 Adjustment? 1 Quote
RitaB Posted August 4, 2022 Report Posted August 4, 2022 On 8/2/2022 at 10:47 AM, TAXMAN said: Does anybody know where in ATX we can report the PPP loan forgiveness? For some reason I can't find it. Add "Elections" form. Then the fourth tab over (tabs are at the bottom on mine) is "PPP Loan." 2 Quote
schirallicpa Posted August 4, 2022 Report Posted August 4, 2022 How many phone calls have you received from bankers that see the PPP loan in the M1 and don't understand why it's reported there? Quote
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