How to File IRS Form 990-T for UBTI for 2023

Описание: For the previous year Form 990-T, see our video here:
   • How to File Form 990-T for UBTI.  Step-by-...  

Form 990-T is filed when tax-exempt entities, trusts, or accounts generate unrelated business income and must pay income taxes on those earnings. In this example, we have a Form 990-T filed by a private nonoperating foundation that has a pass-through investment in a partnership.

In this example, we have a private nonoperating foundation that is required to file its annual Form 990-PF and Form 990-T for its share of UBTI from an investment in a partnership.

The ordinary income reported on Schedule K-1 is included in net investment income on Form 990-PF and separately reported on Form 990-T as UBTI.

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