Welcome back! Ask questions, get answers, and join our large community of tax professionals.

46050

46050

The following diagnostic is generating:

Per Electronic Filing Business Rule P990PF-040-02, if Form 990-PF, Item H, checkbox ""Section 501(c)(3) exempt private foundation"" or checkbox ""Section 4947(a)(1) nonexempt charitable trust"" is checked AND Part VII-A, Line 7 has a choice of 'Yes' indicated or Part II, Line 16(b) (total assets) is greater than $5000 AND a value exists for Contributions, gifts, and grants paid in Part I, Line 25(a) or Line 25(d), then at least one entry must be provided in Part XV, Line 3a in the list ""Grants and contributions paid during the year"". Please review the input and make the necessary entries or the return will be rejected.

Solution:

If ""Section 501(c)(3) exempt private foundation"" or checkbox ""Section 4947(a)(1) nonexempt charitable trust"" is checked AND Part VII-A, Line 7 has a choice of 'Yes' indicated or Part II, Line 16(b) (total assets) is greater than $5000 AND a value exists for Contributions, gifts, and grants paid in Part I, Line 25(a) or Line 25(d)"" is correct....then 990PF needs to be completed - Preparer's usually miss Foundation status of recipient AND Purpose of grant or contribution (Ctrl+E) fields on Screen 43.3 which are required to complete 990-PF Part XV

Labels (2)