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

Alerts and notices

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, go to the screen where you entered the sale information. That could be the SchD screen, the Asset module, or the Sale screen if asset detail is disabled.

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.