In the 2020 tax year, where do I account for Covid related forgivable loan (i.e. MB Gap Protection Program MGPP $6,000 loan forgivable on 31-Dec-20)? Schedule-125 Revenue?
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You should contact CRA for information on when and how to report Covid-19 assistance income on a T2 return. Contact CRA at 1-800-959-5525.
Hope this helps
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