Reporting passthrough income on Form 990T in ProConnect Tax

This article explains how to enter K-1 information in the Exempt Organization return in ProConnect Tax.

In an Exempt Organization return, there's no specific screen to enter income reported to the organization from a K-1. Income and expenses reported on Schedule K-1 may be entered on different screens, based on the kind of income or expense and how it should be reported on Form 990, 990-PF, or 990-T.

Examples of the screens that can be used:

• Under the Revenue section:
  • Other Revenue
  • Rental Income
  • Investment Income
  • Dispositions
  • Passthroughs Income (990-T)
• Under the Expenses section:
  • Unrelated Business (990-T)

This list doesn't cover every screen where income or expenses can be reported. It's up to the preparer to determine where on the return they want to report amounts from a K-1.