Report Paycheck Protection Program loan information
You have to include a statement with the return with information about Paycheck Protection Program (PPP) loans.
- Select the1040screen,General Footnote. The footnote prints with the tax return and is also included with the electronic file.
- IncludeRP2021-48at the top.
- Be sure the statement includes the following for each PPP loan:
- Name address, and Individual Taxpayer Identification Number or Social Security Number.
- A statement that you applied section 3.01(1), (2), or (3) of Rev. Proc. 2021-48, and for which taxable year.
- The amount of tax-exempt income from forgiveness of the PPP Loan that you are treating as received or accrued. Also indicate the taxable year (2020 or 2021).
- Whether forgiveness of the PPP Loan was granted as of the date you file your return.
