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NFP Dissolution - Schedule N preparation when only asset was cash

wjh4848
Level 2

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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4 Comments 4
qbteachmt
Level 15

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

Do I need to list each transaction or is their a dollar amount threshold?  The article does not say. 

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qbteachmt
Level 15

It isn't clear what is "each transaction." I don't see where you answered where the funds went?

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sjrcpa
Level 15
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