Processing 990 — tips
Form 990 versus Form 990-EZ
When the organization isn't a private foundation, the application prepares Form 990. To prepare Form 990-EZ, mark the
Prepare Form 990-EZ
checkbox on the 990
screen.Activity unit number in Screens 926, Event, EventPF, Fac, Notes, NotePF, Rent, and SchK
If you enter data on the
926
, Event
, EventPF
, Fac
, Notes
, NotePF
, Rent
, or SchK
screen, you'll need to enter a unit number on each screen. If the unit number is omitted, the information doesn't transfer to the return.Placement of income on return
The application determines the placement of income on the return based on the various code options you select. To properly calculate the return, consider entering the information in:
- Type of income.
- Unrelated business code.
- Exclusion code.
- Form 990-T code(for placement of unrelated business activity).
Non-operating private foundation
The calculation of Form 990-PF, Part I, column C for a non-operating private foundation is different from the calculation for an operating private foundation. Use these codes for
Type of private foundation
on the 990PF
screen to identify which type of private foundation is being reported.- For a private operating foundation, leave the field blank. All columns on Form 990-PF, Page 1 are completed.
- For a non-operating private foundation with no charitable activity income, enter1. Form 990-PF, Part I, column c shows a 0 for bothTotal RevenuesandTotal Expensesbecause the foundation is not subject to the calculation ofAdjusted Net Income.
- For a non-operating private foundation with charitable activity income, enter2. Form 990-PF, Part I, column C is calculated as follows:
- Revenue is only reported on lines 10 and 11 and excludes investment income.
- Expenses entered in theEven-2PFandRent-2screens appear if the income is included on lines 10 and 11.
- Expenses entered in theExpPFscreen appear as entered forAdjusted Net Income.
