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Elizabeth is a sole proprietor with 30 employees. She bought $50,000 on June 1st 2020 through the PPP. She spent the entire amount on eligible
Elizabeth is a sole proprietor with 30 employees. She bought $50,000 on June 1st 2020 through the PPP. She spent the entire amount on eligible expenses. which is a fine statement that's true? A. Elizabeth will be eligible to request forgiveness of the entire loan balance B. Elizabeth may not deduct the payroll cost paid with the PPP loan funds c. And Linda will issue form 1099-C for any forgiving PPP amounts D. in and out of a forgiving PPP lawn will be included as income from the cancellation of debt
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