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I
iysong
Level 1
April 4, 2024
Question

Should a nonprofit whose exemption status was revoked fornot filing electronically. Should nonprofit owner file the activity on schedule C.

  • April 4, 2024
  • 2 replies
  • 11 views
nonprofit has no profits.
This topic has been closed for replies.

2 replies

sjrcpa
sjrcpa
Level 15
April 4, 2024

Nonprofits don't have owners.

Is it a corporation? Most nonprofits are. Ergo 1120 is to be filed.

Will he try to get the exemption reinstated?

The more I know the more I don’t know.
    qbteachmt
    qbteachmt
    Level 15
    April 5, 2024

    "nonprofit has no profits."

    Which is not the same as no activity.

    And it's technically "Not For Profit" and not "nonprofit." Any entity that is nonprofit will not last very long. The NFP entity is operating with a public good and charitable intent, hence "not for profit."

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