Form 990 Part XI line 10, how is it input or computed? If it does not equal Form 990 Part X line 33 column b, how can it be changed?

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George4TacksAnswer

Level 15

You are right about the link. I need to clean my glasses, as I was on Schedule X.
Is line 4 correct. Line 10 seems to just be doing the math of 3-9.

Answers are easy. Questions are hard!

George4Tacks

Level 15

Use this trick: Check Return > Go to the line or box you want and click that line or box.

Form 990 Part XI line 10: That trick takes you to Depreciation > Enter just like any other asset in the PTO entities.

There must be some offset to a buildings, land, etc - such as a loan?

Do you actually have a balance sheet to work from?

Answers are easy. Questions are hard!

N

NY-tax-guyAuthor

Level 2

That specific line is not hyperlinked like others are. I do have a simple balance sheet which is cash plus a few depreciable assets.

That line 10 seems to come from the difference BOY and EOY shown in "Net assets/fund balances at end of year" on the Federal Exempt Organization Tax Summary, which is supposed to equal Form 990 Part XI line 10. It did on the 2018 return, but it does not in the 2019 return right now. So I need to recheck all expenses and balance sheet items. It is off by the amount of net assets at BOY for some reason.

They converted to QuickBooks from an Excel spreadsheet that was basically a checkbook in 2019. There was a minor difference in the roll of tax assets, so that might be one of the issues causing this.

George4TacksAnswer

Level 15

You are right about the link. I need to clean my glasses, as I was on Schedule X.
Is line 4 correct. Line 10 seems to just be doing the math of 3-9.

Answers are easy. Questions are hard!

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