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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
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990-EZ
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Bethynp
Level 3
09-15-2021
10:42 AM
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Hello Tax Preparers
I'm working on a 990-EZ, which I don't do often. I'm stuck on Schedule B as none of the contributors who gave over $5,000 are individuals. All are corporate donations.
Was I supposed to list those as "other revenue" on line 8 in part 1 rather than as "contributions" on line 1? The real issue is that if I list all the corporate donations on Schedule B, which are all over $5,000, column D there asks if the contributor is a Person, Payroll or Noncash and it is none of those so I get a diagnostic if I leave it blank.
Anyone have any ideas? I thank you all in advance for any help. I know this is on extension until November 15th, but I'm trying to clear my backlog! As I'm sure many of you are doing too!
Beth
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sjrcpa
Level 15
09-15-2021
11:41 AM
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Corporations are people, too. Citizens United.
The more I know, the more I don't know.
Bethynp
Level 3
09-15-2021
03:13 PM
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Thank you. I will mark all as "Person." It's been long time since I've completed one of these.
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