Is any additional reporting needed for organizations that received income from an unrelated business?

Yes, if your organization has received gross income of $1,000 or more from unrelated business activities or trades for the tax year, it must file Form 990-T along with Form 990-EZ.

Here's how to report the unrelated business income in Form 990-EZ:

Step 1:On the ‘Organization Tax Year’ page, select the tax year for which you want to file the return. Once selected, proceed with filling out the subsequent parts of the form.

Step 2: Under the More Information section, select ‘Start’ for other Information.

Step 3: Select ‘Yes’ and enter the amount of gross income received from various unrelated businesses.

Step 4: Click Next.

Step 5: Follow the subsequent steps as prompted to complete the form.

Step 6: Review the details, make any necessary payments, and click the Transmit button to submit your return to the IRS.

However, if the organization fails to file Form 990-T under the stated condition, it must provide an explanation for this in Form 990 Schedule O, Supplemental Information, and attach the schedule along with Form 990-EZ.