Is any additional reporting needed for organizations that received income from an unrelated business?
4.1k views | Last modified 9/17/2020 6:29:12 AM EST | Added by ExpressTaxExempt Team

Applicable To
990-PF 990-N 990-EZ 990 8868 1120-POL

Yes, if your organization has received a gross income of $1,000 or more from an unrelated business or trades for the tax year, then it must file Form 990-T along with the 990-EZ return.
Here's how to report the unrelated business income in ExpressTaxExempt:

  1. Log into your ExpressTaxExempt account.
  2. On the dashboard, click on the "Start Return" button.
  3. Select the "Form 990-EZ" option on the list of Federal returns.
  4. Enter your organization details and click "Next"
  5. In the "Organization Tax Year" page, select the year for which you want to file the information return. Once done, the subsequent steps will be to fill the actual parts of the form. 
  6. Under More Information section, select "Start" for Other Information.
  7. Select "Yes" and enter the amount of gross income received from various unrelated businesses.
  8. Click Next.
  9. Now, follow the subsequent steps as prompted.
  10. Review the details, Pay, and click the Transmit button to transmit your return to the IRS.

However, if the organization fails to file Form 990-T for the above-stated condition, then it must provide an explanation for it in Schedule O, Supplemental Information, and attach the schedule along with Form 990-EZ.

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