McKinney Texas Form 990 (Schedule J) 2024-2025

McKinney Texas Form 990 (Schedule J): What You Should Know

Address) of agent filing. Name of employer. Amount of gross earnings. Total gross income. Gross receipts during calendar year. Source of net income. Source of gross expenses. Excluded from gross income. Form.  (a) Amounts that may be claimed as a deduction for the tax year in which the excess benefit was received. Gross proceeds received for the  Expenses. Expenses from the operation of the business of the disqualified person. Exempt proceeds received for the  Organization Expense. Expenses of self-employment of self-employed person. Excluded earnings of a disqualified person. Net income of the disqualified person. Source of gross income from disqualified person. Net source of income from any other person. (a) Amounts that may be claimed. All amounts received by the disqualified person from and before the  Tax year in which the excess benefit was received, but only for the gross receipts of the disqualified person and not for any other expenses. Note. The net income from the source of the excess benefit is not gross earnings, since the excess benefit is a benefit received by the prohibited person. The net profit or loss from the employment of the disqualified person is income from the business of the disqualified person. The gross income of the disqualified person is the amount received less the exclusion and gross income of all persons under §1.199-5 under Regulations section 1.199-3(e). Nonprofit Explorer — Fulfilling — News Apps — ProPublica See instructions. See instructions section for Schedule L, Part II. If the reporting entity is required to file Form 990 and received excess benefit payments for the tax year within the year the excess benefit transaction took place, then, for all gross income for which the excess benefit payments are required to be reported, enter: (a) the dollar amount of excess benefit payments received for the tax year within the year the transaction took place (Form 990); (b) the dollar amount of excess benefit payments for the taxable year; plus (c) the gross income for the taxable year. Form 990 (Part IV, line 18) is a paper filed on Form 990. See instructions for form.  See instructions for Schedule L, Part II.

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