
Reporting passthrough income on Form 990T in ProConnect Tax
by Intuit• Updated 3 weeks ago
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.