- NY Credits : 8.0
- TX Credits : 8.0
- CTEC Credits : Federal Tax Law - 8.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 8.0
- IRS Non-Credentialed Return Preparer Credits : Federal Tax - 8.0
Companion to PPC's 990 Deskbook - Course 1 - Form 990-T (990TG181)
This interactive self-study course takes a look at topics related to Form 990-T. Lesson 1 discusses filing the Form 990-T. Lesson 2 looks at unrelated business income. Lesson 3 examines the deductions that are allowed in determining unrelated business taxable income. Finally, the course concludes with Lesson 4, which discusses calculating the unrelated business income tax.
Course Expiration Date: February 28, 2019
The grading fee for answer sheets submitted by regular mail is $105.
Identify circumstances in which Form 990-T is needed and the form’s basic preparation requirements.
Determine how to file a consolidated Form 990-T.
Identify an unrelated trade or business, and when activities are considered a trade or business.
Determine how to report gross receipts or sales and gains and losses, deal with income from pass-through entities, and report taxable rental income.
Recognize the general rules for deducting expenses when determining unrelated business taxable income (UBTI) and how to deal with interest expense and charitable contributions.
Determine the effects of depreciation, the Section 179 deduction, and the net operating loss deduction.
Identify the proper rate schedule, how to pay any tax due, the tax credits available to reduce unrelated business income tax.
Identify how to address the proxy tax on lobbying expenditures, alternative minimum tax, and estimated tax payments.
Lesson 1—Filing Form 990-T
Lesson 2—Unrelated Business Income
Lesson 3—Deductions Allowed in Determining Unrelated Business Taxable Income
Lesson 4—Form 990-T Tax Calculation