Screen PenPF - Private Foundation Penalties (990)

Penalties and Interest

Date return filed
If the date you enter in this box is after the return due date, a penalty for failure to pay, the penalty for failure to file, and interest on the underpayment calculates. If this box is blank, the
Extended due date
box in the ExtPF screen is used and then the original due date of the return.
Prior year tax
Enter last year’s tax if last year’s tax was prepared using the prior-year application. The calculation of Form 2220 exceptions uses this amount.
Prior year less than 12 months
Enter
X
if the preceding tax year was shorter than 12 months. The calculation of Form 2220 for Form 990-PF uses this information.
Large organization
Enter
X
if the organization or its predecessor had taxable income of $1 million or more for any of the three years immediately preceding the current tax year.

Form 2220 - Annualized Method

Annualized period elected for current year
Enter a code in this box to specify how to calculate the annualized method. You must make an entry in this box to calculate this section of the form.
Taxable income
Enter the taxable income for each period to calculate Form 2220, Schedule A, Part II. If these boxes are blank, the proportional share of taxable income for each period calculates Form 2220, Schedule A, Part II instead.
Credits
Enter the current-year credits for the organization to calculate Form 2220, Schedule A, Part II.

Form 2220 - Adjusted Seasonal Method

Use this section to enter season information necessary to calculate Form 2220, Schedule A, Part I for Form 990-PF.
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