Skip to main content
Level 3
May 5, 2020
Solved

Sold Data List

  • May 5, 2020
  • 1 reply
  • 7 views

A 990 client sold a Data List (Names & Addresses).  This is not what they are in business for (this list was a self generated list).  Where should I input this in Lacerte?

This topic has been closed for replies.
Best answer by sjrcpa

Other income, and possibly the 990-T

1 reply

sjrcpa
sjrcpaAnswer
Level 15
May 5, 2020

Other income, and possibly the 990-T

The more I know the more I don’t know.
wjh4848Author
Level 3
May 6, 2020

Will they have to pay tax on the gain?

Thank you so much for your answer.

sjrcpa
Level 15
May 6, 2020

If it's unrelated business income.

The more I know the more I don’t know.