Does my foundation have to report any tax on political expenditures in Form 990-PF?

The foundation's income produced due to political activities or any expenditures made on political activities is subject to tax. This amount must be reported on Form 1120-POL, and the foundation must also pay taxes on this amount. The tax on political expenditures imposed on the foundation must be reported in Form 990-PF.

If a foundation involves itself in any political activities, like influencing political campaigns and elections, or spends more than $100 for a political purpose, a detailed description of these activities must be attached to the Form 990-PF.
 
Here's how you report your tax on political expenditures in Form 990-PF using Tax990:

• On the 'Organization Tax Year' page, select the tax year calendar or fiscal for which you want to file the information return. Once done, the subsequent steps will be to fill the actual parts of the form. 

• Under 'Statement Regarding Activities,' select 'Political Activities.'

• Under 'Form 1120-POL', select 'Yes' if your organization filed Form 1120-POL.

• Enter the appropriate values in the given boxes.

• Under 'Political Activities,' select 'Yes' to enter details regarding the foundation's political activities.

• Click on 'Add Political Activities' to provide a detailed description of these activities.

• Click Next and follow the subsequent steps as prompted.

• Review the details, Pay, and click the Transmit button to transmit your return to the IRS.