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C
Cassandra
Level 2
November 19, 2021
Solved

If PPP loan interest is forgiven, can the interest expense be deducted?

  • November 19, 2021
  • 1 reply
  • 3 views
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Best answer by IRonMaN

Yes, but you didn't pay any interest.

1 reply

IRonMaN
IRonMaN
Level 15
November 19, 2021

If it is forgiven, what expense do you have?

Slava Ukraini!
    C
    CassandraAuthor
    Level 2
    November 19, 2021

    Expenses paid with PPP loan proceeds are deductible. 

     

    IRonMaN
    IRonMaNAnswer
    Level 15
    November 19, 2021

    Yes, but you didn't pay any interest.

    Slava Ukraini!
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