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- Should a nonprofit whose exemption status was revoked for not filing electronically. Should nonprofit owner file the activity on schedule C.
Should a nonprofit whose exemption status was revoked for not filing electronically. Should nonprofit owner file the activity on schedule C.
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iysong
Level 1
04-04-2024
05:29 PM
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nonprofit has no profits.
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2 Comments 2
sjrcpa
Level 15
04-04-2024
06:58 PM
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Nonprofits don't have owners.
Is it a corporation? Most nonprofits are. Ergo 1120 is to be filed.
Will he try to get the exemption reinstated?
The more I know, the more I don't know.
qbteachmt
Level 15
04-05-2024
10:26 AM
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"nonprofit has no profits."
Which is not the same as no activity.
And it's technically "Not For Profit" and not "nonprofit." Any entity that is nonprofit will not last very long. The NFP entity is operating with a public good and charitable intent, hence "not for profit."
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