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Reporting passthrough income on Form 990T in Lacerte

SOLVEDby IntuitLacerte Tax7Updated 1 month ago

This article explains how to enter K-1 information in the Exempt Organization module.

In the Exempt Organization module, there's no specific screen to enter income reported to the organization from a K-1. Income and expenses reported on Schedule K-1 may be entered on different screens, based on the kind of income or expense and how it should be reported on Form 990, 990-PF, or 990-T.

Examples of the screens that can be used:

  • Screen 20, Other Revenue
  • Screen 22, Rental Income
  • Screen 23, Investment Income
  • Screen 24, Dispositions
  • Screen 27, Passthroughs Income (990-T)
  • Screen 37, Unrelated Business (990-T)

This list does not cover every screen where income or expenses can be reported. It is up to the preparer to determine where on the return he or she wants to report amounts from a K-1.

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