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Can I deduct my expenses that were paid for by the PPP loan

Can I deduct my expenses that were paid for by the PPP loan? Please provide a link to a government website confirming you answer as I’ve had differing opinions. Thank You!

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  1. 73 Answers

    Hi can you be a bit more specific? Which expenses are you referring to? When you apply for PPP loan forgiveness you must indicate how the funds were spent. Your lender will let you know if all or some of the expenses are covered under the forgiveness. You can find specific details on the SBA loan website, I have included the link below:

    https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program#section-header-5

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