Tax-exempt organizations with unrelated business income (UBI) must file Form 990-T, Exempt Organization Business Income Tax Return. This form helps the IRS understand and tax income earned from activities outside the organization's charitable mission and calculate the tax owed on that business income.
Form 990-T Schedule A is a supplementary document to report the details of each unrelated trade or business. Let’s learn more about Schedule A and its purpose in this resource article.
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Form 990-T Schedule A is a supplementary schedule that breaks down unrelated business income (UBI) for each separate trade or business conducted by a tax-exempt organization.
It provides a detailed breakdown of income, expenses, deductions, and taxable income for each unrelated activity, allowing for an accurate calculation of the total tax owed on Unrelated business income.
Any tax-exempt organization that has unrelated business income from one or more unrelated trades or businesses must file Form 990-T Schedule A. Unrelated business activities are defined as those that are not substantially related to the organization's exempt purpose.
This includes various types of tax-exempt entities such as:
If an organization engages in multiple unrelated business activities, it must complete a separate Schedule A for each business.
The deadline to file IRS Form 990-T is the 15th day of the 5th month after the organization's accounting period ends. If your organization follows the calendar tax year, the deadline for filing the 990-T return is May 15.
An employee's trust defined in section 401(a), an IRA (including SEPs and SIMPLEs), a Roth IRA, a Coverdell ESA, or an Archer MSA must file Form 990-T by the 15th day of the 4th month after the end of its tax year.
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Get StartedOrganizations with gross income of less than $1,000 from unrelated business activities generally do not need to file Form 990-T.
However, if the organization has even a small amount of UBI from multiple unrelated businesses, they may still need to file Form 990-T and complete separate Schedule A's for each activity.