Excise Tax Based On Investment Income [F990PF-015-01] - How do I resolve it?
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IRS  Error code: Form 990-PF: [F990PF-015-01]

Rejection Message: 

The sum of the Exempt operating foundation described in Section 4940(d)(2) and the Tax under Section 511 of the Excise Tax Based On Investment Income must have a value. If there is no value, then the sum can be treated as a zero.

What does it mean:

For a foundation described under Section 4940(d)(2), the sum of the Exempt operating foundation described in Section 4940(d)(2) and the Tax under Section 511 of the Excise Tax Based On Investment Income must have a value. If there is no value, then the sum can be treated as a zero.

Resolution:

If your private foundation meets the requirement of Section 4940(d)(2), make sure the sum of the Exempt operating foundation described in Section 4940(d)(2) and the Tax under Section 511 of the Excise Tax Based On Investment Income has a value. If there is no value, then the sum can be treated as a zero.

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