Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

My client received Form 990T . I am seeing this for the first time. Do I need to take any information from this and report on the individual return?

nishavithalani
Level 1
 
0 Cheers

This discussion has been locked. No new contributions can be made. You may start a new discussion here

1 Solution

Accepted Solutions
abctax55
Level 15

Actually, to answer the specific question asked:

No

"*******Tax software is no substitute for a professional tax preparer*******
( Generic Comment )"

View solution in original post

0 Cheers
7 Comments 7
abctax55
Level 15

Actually, to answer the specific question asked:

No

"*******Tax software is no substitute for a professional tax preparer*******
( Generic Comment )"
0 Cheers
nishavithalani
Level 1
Thanks
0 Cheers
IRonMaN
Level 15
0 Cheers
abctax55
Level 15
But why does anyone send out the whole friggin' form?  
We've had questions about getting K-1's invested in by the IRA's.  And questions about what to do with UBIT shown on K-1's.
NMI..
"*******Tax software is no substitute for a professional tax preparer*******
( Generic Comment )"
0 Cheers
abctax55
Level 15

A Not For Profit organization uses a F 990-T to report taxable income.

Are you sure that's the form your client received?

"*******Tax software is no substitute for a professional tax preparer*******
( Generic Comment )"
0 Cheers
nishavithalani
Level 1
Yes my client received this.
0 Cheers
abctax55
Level 15
OK...why?  The form isn't sent to individuals, it is filed with the IRS. Is your client on the Board on the Mot for Profit Organization?
"*******Tax software is no substitute for a professional tax preparer*******
( Generic Comment )"
0 Cheers