CO online Form 990 (Schedule J) 2023-2024

CO online Form 990 (Schedule J): What You Should Know

The amount reported in Column (D) and reported in Column (F) of Schedule J is the sum of all non-employee compensation that may be reported in the current year (column (G)). The amount reported in Column (G) includes amounts paid directly by the non-employee but is also includible when the compensation is paid directly by the  mayor. For more information about how to report compensation information by Form 990, see Tax Guide for Business Entities. If the non-employee compensation is paid into a traditional IRA, the amount reported in Column (H) of the Schedule J column may also be includible in the comprehensive annual IRA deduction (Column (E)). If a person is compensated both as an employee and as a beneficiary of a trust and that person elects the standard deduction, no information on Column (I) should be given on Form 990. If there is an employer distribution of the non-employee compensation that would be includible if paid directly by the mayor (column (J), the amount shown under The remainder, must be reported under Other than a distribution from an IRA, (See IRS Publication 970 and Forms 5471, 988, 989A,  1320, 2655 and 5471-T). If the non-employee compensation is paid by a non-payer, no information about the non-employee's share of the compensation is required in column A. The  amount shown in Column (B) (and its description) for the non-employee compensation does not have to be reported. The amount under Column (D), also referred to as employee gross income, must be reported by Form 990, Schedule K‑1 for the non-employee. If the non-employee is a director, a trustee and an officer of the organization, their compensation has not been reported as of 2024 because of the change in law in 1995 for which the following information is no longer provided. You must also include information on your Form 990 for a  non-employee paid under a salary reduction arrangement, if the director, trustee or officer was not paid with a salary in that arrangement. If the Form 990 was filed on or before October 31, 2018, you must also include the following information on all reports, statements and other information provided from February 1, 2019, onward.

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