RP 2021-48 PPP Forgiveness Recognized in 2020

Technical topics regarding tax preparation.
#1
ocdtax  
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162
Joined:
16-Feb-2021 4:37pm
Location:
FL
Hello,

Are you including an RP 2021-48 statement on partnerships that recognized forgiveness tax-exempt income on their 2020 return? Partnership was technically approved for forgiveness in January 2021, but claimed the basis adjustment on 2020's return.

Is this a 3.01(1) situation or skip the statement altogether because nothing is being recognized in 2021?

No PPP2.

Thanks. If this has been asked before, I couldn't find it and sorry!
 

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