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Level 5
March 8, 2023
Question

"Theft Loss" goes on Form 4684 on a Schedule C - what about 990?

  • March 8, 2023
  • 1 reply
  • 9 views

A non-profit had cash stolen out of their safe. Do I account for this on a 4684 (like a Schedule C)?
And what about in their books? Should that be an expense account?

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1 reply

Level 10
March 8, 2023

It's a non-profit that does not pay tax.

I don't stress over it and just put it as an additional expense, no special forms or anything.

do it the simplest way possible and move on.