ILLMAS Posted October 1, 2021 Report Share Posted October 1, 2021 What is the contra account for the PPP loan liability forgiven in 2021? Thanks Quote Link to comment Share on other sites More sharing options...
Lion EA Posted October 1, 2021 Report Share Posted October 1, 2021 Other Income - NonTaxable? (My brain is fried, so wait for someone else to jump in here!) 2 Quote Link to comment Share on other sites More sharing options...
ILLMAS Posted October 1, 2021 Author Report Share Posted October 1, 2021 It would be nice if the IRS did a similar line like they did for unemployment first $10,200. 1 Quote Link to comment Share on other sites More sharing options...
Lion EA Posted October 1, 2021 Report Share Posted October 1, 2021 Too logical. Quote Link to comment Share on other sites More sharing options...
michaelmars Posted October 8, 2021 Report Share Posted October 8, 2021 If not forgiven in 2020 then its a liability. 1 Quote Link to comment Share on other sites More sharing options...
ILLMAS Posted October 15, 2021 Author Report Share Posted October 15, 2021 On 10/8/2021 at 11:16 AM, michaelmars said: If not forgiven in 2020 then its a liability. as of 12/31/20 yes. Quote Link to comment Share on other sites More sharing options...
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