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Lisa LMA

PPP Loan Forgiven

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We had our PPP loan forgiven, and our CPA told me to book it in under "Non-taxable income".  I spoke with one person that set to setup account 950 to book this as non-taxable revenue.  It still shows up on the Income Statement, is this correct?

Parents
  • +1

    how to create an "other income - non taxable" account in the chart of accounts using sage 50? It only allows me to create an other income as taxable income and it is recorded as part of the revenue account; however, I need to show this "Other Income - Non taxable" after the Net Income line?

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  • +1

    how to create an "other income - non taxable" account in the chart of accounts using sage 50? It only allows me to create an other income as taxable income and it is recorded as part of the revenue account; however, I need to show this "Other Income - Non taxable" after the Net Income line?

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