What should be entered as the Gross Sales of Inventory, Less Returns, And Allowances in Form 990-PF?
136 views | Last modified 9/25/2020 6:18:30 AM EST | Added by ExpressTaxExempt Team

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

The revenue obtained from the sales of the goods without deducting the returns, allowances, and discounts should be entered as the Gross Sales of Inventory, Less Returns, And Allowances.
The revenue of sales before deducting the sales returns, sales allowances, and sales discounts are considered as Gross Sales.

Was this helpful? Yes No

Category

Sign Up for a
FREE ExpressTaxExempt Account!

Register Now

Returning User? Sign in

Couldn't find what you
are looking for?

Contact Us

(704) 839-2321 support@ExpressTaxExempt.com