Effect of PPP on shareholder tax basis

[RWG1950]

I've acquired new customers (MFJ) that have invested in several small limited partnerships.
Some of these partnerships received PPP money.
They've provided the 2023 K-1's and also amended 2021 & 2022 K-1's.
Tax basis worksheet provided with the K-1's appear to show the PPP amount as increasing tax basis.
As I understand this, the PPP amount is not taxable, but does it also increase partner tax basis?
Thanks for comments.

[New York Enrolled Agent]

Covid-related Tax Relief Act of 2020 provided that PPP money excluded from income should be treated as tax exempt income for purposes of section 705.

[BOB W]

I treat it as an increase in basis.

[terryats]

Tax exempt income increases stock basis for an S-Corp. See link: https://www.irs.gov/businesses/small...and-debt-basis