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April 18, 2022
Question

California form 4197

  • April 18, 2022
  • 1 reply
  • 0 views

I am an Independent contractor in California and received a PPP loan that was disbursed in April 2021. I recently applied for forgiveness and SBA still hasn't forgiven my loan. Do I still need to file form 4197 now or wait till my loan is forgiven first? Tomorrow is the last day for filing 2021 taxes.

1 reply

PatriciaV
Employee
April 18, 2022

If you intend to report the loan forgiveness when it is received, you can wait to include it on your 2022 tax return.

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