990-US: Sale information not appearing on Form 4797 or Schedule D (FAQ)

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Question

Why is sale information not appearing on Form 4797 or Schedule D?

Answer

These forms are only used to report sales of unrelated business activities for the calculation of Form 990-T. Forms 990, 990-EZ, and 990-PF report sale information without using Form 4797, Schedule D (Form 1041), or Schedule D (Form 1120). To classify a sale as unrelated business income subject to tax on Form 990-T, enter an unrelated business code on Screen Sale or in the UBIT column of the Detail schedule statement dialog on Screen SchD.

Under section 512(b)(5), sales of property are exempt from unrelated business tax and are not reported on Form 4797 or Schedule D unless one of the following conditions is true.

Related topic: 990-US: Sale information FAQs

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