Drake users how do I record the PPP loan forgiveness?

Technical topics regarding tax preparation.
#1
Soups  
Posts:
47
Joined:
22-May-2019 12:41pm
Location:
Illinois
I have a S-Corp that received forgiveness on 10-28-2020. Do I put the amount in as non taxable income or M-1 adjustment. The only reason I am asking is That the Illinois 1120-s is taxing either way. Thank you for your time.
 

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