Expenses paid with PPP funds - Spidell

Expenses paid with PPP funds

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Message Board Expenses paid with PPP funds

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    • #260377
      Lisa Kizanis
      Participant

      For a fiscal year corporation with a year end of June, are the expenses paid with PPP funds non-deductible in the current year even though loan forgiveness will not happen until the following year?

    • #260914
      Sandy Weiner
      Participant

      We’d recommend putting the return on extension. For purposes of the extension payment calculation, I’d treat the expenses as nondeductible.

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