What is the purpose of Schedule K in Form 990?
4.4k views |
Last modified 3/23/2021 9:37:09 AM EST |
Added by ExpressTaxExempt Team
The purpose of Schedule K is that it must be filed by an organization along with Form 990 to provide information on its outstanding liabilities associated with tax-exempt bond issues. These bond issues associated with an exempt organization will generally consist of qualified 501(c)(3) bonds.
Organizations filing Schedule K with its Form 990 should report the qualified 501(c)(3) bonds and the other types of tax-exempt bonds that benefit the organization.