What is the purpose of Form 990-T?
1.2k views | Last modified 12/26/2023 12:47:37 AM EST |

Applicable To
Form 990 Form 990-EZ Form 990-PF Form 990-N Form 8868 Form 990-T

The purpose of Form 990-T is to calculate and report an organization's unrelated business income. If your organization has a gross income of $1000 or more from unrelated business income for the tax year, you must file Form 990-T.

For example, the investment income from debt-financed property unrelated to the organization's charitable purpose and certain rents (and related expenses) is treated as an unrelated trade or business income and should be reported on Form 990-T.

Form 990-T is also used to

  • 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 credit for certain federal excise taxes paid or for small employer health insurance premiums paid
  • Report unrelated business income tax on reinsurance entities

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