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WebJul 13, 2024 · For example, if a business gets a $20,000 PPP loan, they would need to spend at least $12,000—60% of the loan—on payroll. However, they spend only $9,000 on payroll. This is 75% of the minimum payroll … WebDepending on how PPP loan forgiveness should be reported for a partnership, the following data entry can be used. If PPP loan forgiveness in not included as book income. No data … WebMar 7, 2024 · “Great question. The IRS – in the 2024 Form 990 instructions – has stated, ‘Amounts of PPP loans that are forgiven may be reported on line 1e as contributions from … cafepress shower curtains review