How to fill Contributions, Gifts, Grants, and Similar Amounts $5,000 or more you receive?
352 views |
Last modified 11/9/2020 5:20:43 AM EST |
Added by ExpressTaxExempt Team
To fill Contributions, Gifts, Grants, and Similar Amounts $5,000 or more you receive, provide the contributor's name, the nature of the contributor (individual, associated organization, and etc.,) and specify the type of contributions- cash or noncash. If it's a noncash contribution, you need to choose the type of property contributed, and its equivalent FMV (Fair Market Value).
You can add contributions in two ways.
- Add each Contribution Individually.
- Bulk Upload the Contributions using the bulk upload option (the preferred option if you have received multiple contributions during the year).
Note: As you provide these details, the application will generate Form Schedule B in the backdrop, and you'll have all these details there.