990 schedule j Form

2023 990 schedule j Form: What You Should Know

The form is used by any non-profit organization to collect information about salaries, wages, wages, and salaries of the organization's director and the director's employee (partner, director's assistant) of the same or a similar business in which the director performs services. For each annual income tax return that is due before November 15, 2023, an organization must  report compensation information about each director (including their partner, spouse and employee) whose compensation includes any of the following:  (1) any income derived by the director from ownership of any kind of property, (2) profits of any kind from the sale, exchange or other disposition of any property, (3) salary or wages not paid from the compensation for which they have no ownership interest or any income from any other source.  (4) any capital gain and gain-on-death accrual on the sale, exchange or other disposition of property (or both), (5) income from any source other than income from property, (6) capital gain and loss accrued during the previous three years by the director; (7) wages not paid from the compensation for which they have no ownership interest, which are not subject to tax under section 280G. If your compensation information includes an item designated “Income for Self,” enter as “Other Income” in line 1. Line 4 includes taxable compensation received from, or accrued in connection with, an activity for which you are self-employed. If your compensation information includes an item designated “Other Income,” enter as “Other Income” in line 3. Income from the activity in line 5 is not taxable. If you have any other item of compensation that is not reported on Schedule J, record it as Other Income in line 4. For information about how the Form 990 is prepared, go to page 8. If you have difficulty with one of the forms or want to obtain an electronic version of the form online, go to IRS.gov to access and print an electronic copy (for a fee). If an electronic copy of the form is not available online, go to IRS.gov for a paper copy of the form. You can find a guide to interpreting Schedule J (Form 990) on page 12 and on page 13 of the 2024 Edition.  Other Resources Tax Forms, Instructions and Guides on IRS.gov.

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