990-US: Sale information appearing on Schedule D for Form 1120 instead of Schedule D for Form 1041 (FAQ)

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Question

Why is information appearing on Schedule D (Form 1120) instead of Schedule D (Form 1041)?

Answer

UltraTax CS defaults to calculating Form 990-T as a corporation if the type of organization entered on Screen 990 is C or O, except for a few section 501(c) type organizations that are considered trusts.

Use the Organization type field on Screen 990T to identify the organization as a corporation (code 1) or trust (code 2, 3, or 4).

Organization type field

Related topic: 990-US: Sale information FAQs (990)

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