Please find below the revised and divided text into sentences: What is schedule B for form 990 PF and when should you file it? Here's what you need to know: The form 990 PF schedule B is used to report the tax deductible and non-tax deductible contributions made to private foundations. Private foundations must attach a schedule B if they receive contributions of five thousand dollars or more from any one contributor during the tax year. Contributors may include individuals, fiduciaries, partnerships, corporations, associations, trusts, and tax-exempt organizations. Likewise, the following types of contributions are also reported on schedule B: grants, requests, devices, and gifts of money or property, whether or not for charitable purposes. In the case of property, you would report the fair market value of the property. Did you know that e-filing form 990 PF is now mandated by the IRS? So why not e-file with expresstaxempt.com, the market-leading form 990 provider? We support all 990 forms and offer an easy solution that walks you through the forum. Plus, schedule B will be automatically generated based on the information you enter. To start your free account at expressstaxempt.com today.
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Video instructions and help with filling out and completing Form 990 - Schedule G vs. Form 990 Schedule B
