What is the form used for? :
Schedule L (Form 990 or 990-EZ) is used by an organization that files Form 990 or 990-EZ to provide information on certain financial transactions or arrangements between the organization and disqualified person(s) under section 4958 or other interested persons. Schedule L is also used to determine whether a member of the organization's governing body is an independent member for purposes of Form 990, Part VI, line 1b.
Is the form Supported in our program? The Schedule L form is supported in the 990 package which is exclusive to the Desktop version of UltimateTax.
How to access the form: While in a return, use the Add Form function to add a new "Sch L" form to the return.
Limits to the form: This form is only available to the 990 package. There is a limit of one copy to each return.
IRS Link: https://www.irs.gov/pub/irs-pdf/i990sl.pdf
