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That doesn’t mean it was taxed by gregmorrissey
There wasn’t a good place to put it so most people/companies included it in revenue, but it would have been backed out of taxable income on the tax return. If it wasn’t then you should look into filing an amended tax return.
As it relates to forgiven loans, it would be equivalent to the borrower being able to claim an interest deduction for the forgiven amount. Such a ridiculous treatment and any business owner that took PPP should take a long, hard look in the mirror before bitching about loan forgiveness. As I’ve noted plenty of times before, my issue is not with PPP, it is with being able to “double dip” on the expense.