What is the form used for? :
Exempt organizations use Form 990-T to:
- Report unrelated business income.
- Figure and report unrelated business income tax liability.
- Report proxy tax liability.
- Claim a refund of income tax paid by a regulated investment company (RIC) or a real estate investment trust (REIT) on undistributed long-term capital gain.
- Request a credit for certain federal excise taxes paid or for small employer health insurance premiums paid.
- Report unrelated business income tax on reinsurance entities.
Is the form Supported in our program? The 990-T form is supported in the 990 package which is exclusive to the Desktop version of UltimateTax.
How to access the form: While in a 990 return, navigate to the Main Info page and mark the box indicating that a 990-T return is being prepared. This will add the appropriate forms to the return.
Limits to the form: This form is only available to the 990 package. This form may not be electronically filed.