wjh4848
Level 2
06-02-2021
10:21 AM
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I have a NFP client that is dissolving this fiscal year. I answered "yes" to line 36 of the 990-EZ. I must do Schedule N, but how should I prepare it if my only asset is $3,399 in CASH? My balance sheet is now zero.
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qbteachmt
Level 15
06-02-2021
01:15 PM
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Well, where did the cash go?
See if this helps:
https://www.irs.gov/charities-non-profits/termination-of-an-exempt-organization
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wjh4848
Level 2
06-02-2021
01:42 PM
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Do I need to list each transaction or is their a dollar amount threshold? The article does not say.
qbteachmt
Level 15
06-02-2021
04:28 PM
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It isn't clear what is "each transaction." I don't see where you answered where the funds went?
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Don't yell at us; we're volunteers
Don't yell at us; we're volunteers
sjrcpa
Level 15
06-02-2021
04:54 PM
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https://www.irs.gov/pub/irs-pdf/f990sn.pdf
The more I know the more I don’t know.
