What Reports needed for accountant to file Form 990

LifeSpan Bookkeeping · ‎January 18, 2019

I have a non-profit client who will be filing taxes. It appears he would need to file a 990 or 990-EZ. Which QBO reports should he run and take with him to his tax preparer?

LifeSpan Bookkeeping · ‎January 18, 2019

In consulting online with a QBO professional, we concluded that the 990 cannot be filed through QBO. And the reports that are most-likely needed by a tax preparer would be the 1099 Transaction Detail Report, the Profit and Loss, and the Balance Sheet. It would also be a good idea to have the client invite the tax preparer to have access to his account through the My Accountant option on QBO in case he/she has any further questions or needs.

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LifeSpan Bookkeeping · ‎January 18, 2019

In consulting online with a QBO professional, we concluded that the 990 cannot be filed through QBO. And the reports that are most-likely needed by a tax preparer would be the 1099 Transaction Detail Report, the Profit and Loss, and the Balance Sheet. It would also be a good idea to have the client invite the tax preparer to have access to his account through the My Accountant option on QBO in case he/she has any further questions or needs.

Mark_R · ‎January 18, 2019

Thanks for these handy insights you've shared, LifeSpan Bookkeeping!

While QuickBooks Online (QBO) doesn't support e-filing 990s at this time, you're right that you can pull up and use these reports when filing the said tax form outside QBO:

1099 Transaction Detail Report
Profit and Loss
Balance Sheet

Also, I recommend sending us your feedback about this. This way, both our compliance and engineering teams can check on this idea and consider adding form 990 as one of the supported forms.

If you have any other concerns, feel free to leave a comment below. Have a good day!

AWaterhouse · ‎January 31, 2019

There's other reports you'd need for the 990. PL by Class so you can do functional expenses, revenues, and program services (Parts III, VIII, and IX). You'll need payroll info too. And donors--so probably Revenue by Donor Summary.

alexbcook · ‎May 14, 2020

It would be an extremely helpful product feature if we could fill out and file Form 990 directly from within QBO. Please add to your product backlog.

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What Reports needed for accountant to file Form 990