Patrick Michael Posted January 23 Report Share Posted January 23 The more I read the instructions the more confused I get and need a sanity check. NP client holds a golf event. Tickets are $125, golf and dinner has a FMV of $75. If I'm understanding correctly $50 (ticket price less FMV) goes on line 1 as a contribution. $75 ($125 ticket price less $50 included in Line 1) goes on line 16B with the $50 included in line 1 entered in the parenthesis on line 16B. Line 6C is $75, the direct cost of the fundraiser ($50 greens fee and $25 dinner). There were no other expenses for the fundraiser. Is it correct that the IRS does not consider the $75 in direct expense as total revenue? This is where I'm getting hung up since the Total revenue on line 9 does not equal the total revenue on the P and L. As always I appreciate the collective experience and wisdom of all of you. Quote Link to comment Share on other sites More sharing options...
DANRVAN Posted January 23 Report Share Posted January 23 3 hours ago, Patrick Michael said: Total revenue on line 9 does not equal the total revenue on the P and L. My guess is that the P & L total revenue reports the gross amount from the fund raiser; and the cost is included with total expenses. The line 18 amount on 990-EZ should match the P & L bottom line net amount. Quote Link to comment Share on other sites More sharing options...
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