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re: My PPP loan was forgiven today
Posted on 10/17/20 at 11:33 pm to cajuncarguy
Posted on 10/17/20 at 11:33 pm to cajuncarguy
quote:
If it is forgiven does that mean you get a 1099 or equivalent?
No 1099. Treasury issued guidance about this recently. Because by law the PPP forgiveness isn’t taxable income, there is no 1099.
Remember the issue is non deductible expenses due to being paid with tax free income.
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