Exempt Organization Business Income Tax Return. (and proxy tax under section 6033(e))

Transcription

1 REAL761 09/05/018 Pg 38 Form A B C 990-T Department of the Treasry Internal Revene Service Check box if address changed Exempt nder section Exempt Organization Bsiness Income Tax Retrn (and proxy tax nder section 6033(e)) For calendar year 017 or other tax year beginning , and ending Go to for instrctions and the latest information. Do not enter SSN nmbers on this form as it may be made pblic if yor organization is a 501(c). X 501( C ) ( 6 ) Print Smter Conties Inc Type 017 D Employer identification nmber (Employees' trst, see instrctions.) E Unrelated bsiness activity codes (See instrctions.) F Grop exemption nmber (See instrctions.),150,584 G Check organization type X 501(c) corporation 501(c) trst 401(a) trst Other trst H Describe the organization's primary nrelated bsiness activity. MLS Operations/Newsletter Advertising I Dring the tax year, was the corporation a sbsidiary in an affiliated grop or a parent-sbsidiary controlled grop? Yes X No If "Yes," enter the name and identifying nmber of the parent corporation. J The books are in care of Brenda Rodgers Telephone nmber Part I Unrelated Trade or Bsiness Income (A) Income (B) Expenses (C) Net 1a Gross receipts or sales 4,501 b Less retrns and allowances c Balance c 4,501 Cost of goods sold (Schedle A, line 7) Gross profit. Sbtract line from line 1c ,501 4,501 4a Capital gain net (attach Schedle D) a b Net gain (loss) (Form 4797, Part II, line 17) (attach Form 4797) b c Capital loss dedction for trsts c 5 Income (loss) from partnerships and S corporations (attach statement) Rent (Schedle C) Unrelated debt-financed (Schedle E) Interest, annities, royalties, and rents from controlled organizations (Schedle F) Investment of a section 501(c)(7), (9), or (17) organization (Schedle G) Exploited exempt activity (Schedle I) Advertising (Schedle J) ,960 4, Other (See instrctions; attach schedle) Total. Combine lines 3 throgh ,461 4,500 3,961 Part II Dedctions Not Taken Elsewhere (See instrctions for limitations on dedctions.) (Except for contribtions, dedctions mst be directly connected with the nrelated bsiness.) 14 Compensation of officers, directors, and trstees (Schedle K) Salaries and wages Repairs and maintenance Bad debts Interest (attach schedle) Taxes and licenses Charitable contribtions (See instrctions for limitation rles) Depreciation (attach Form 456) 1 9, Less depreciation claimed on Schedle A and elsewhere on retrn a b 3 3 Depletion Contribtions to deferred compensation plans Employee benefit programs Excess exempt expenses (Schedle I) Excess readership costs (Schedle J) Other dedctions (attach schedle) Total dedctions. Add lines 14 throgh Unrelated bsiness taxable before net operating loss dedction. Sbtract line 9 from line Net operating loss dedction (limited to the amont on line 30) Unrelated bsiness taxable before specific dedction. Sbtract line 31 from line Specific dedction (Generally $1,000, bt see line 33 instrctions for exceptions) Unrelated bsiness taxable. Sbtract line 33 from line 3. If line 33 is greater than line 3, enter the smaller of zero or line For Paperwork Redction Act Notice, see instrctions. Name of organization ( Check box if name changed and see instrctions.) 408(e) 0(e) or Nmber, street, and room or site no. If a P.O. box, see instrctions. 408A 59(a) Book vale of all assets at end of year 530(a) Realtors Association of Lake & 3001 State Road 19 City or town, state or province, contry, and ZIP or foreign postal code OMB No Open to Pblic Inspection for 501(c) Organizations Only Tavares FL ,691 10,530 See Statement 1 1,80 1,030 9,469 7,756 See Statement 47, ,34 50,619 50,619 1,000 49,619

2 REAL761 09/05/018 Pg 39 Page Part III 40 Part IV Sign Here Tax Comptation 35 Organizations Taxable as Corporations. See instrctions for tax comptation. Controlled grop members (sections 1561 and 1563) check here See instrctions and: a $ $ $ b Enter organization's share of: Additional 5 tax (not more than $11,750) $ Additional 3 tax (not more than $100,000) $ c Income tax on the amont on line Trsts Taxable at Trst Rates. See instrctions for tax comptation. Income tax on the amont on line 34 from: Tax rate schedle or Schedle D (Form 1041) Proxy tax. See instrctions Alternative minimm tax Tax on Non-Compliant Facility Income. See instrctions Total. Add lines 37, 38 and 39 to line 35c or 36, whichever applies Tax and Payments 41a Foreign tax credit (corporations attach Form 1118; trsts attach Form 1116) a b Other credits (see instrctions) b c General bsiness credit. Attach Form 3800 (see instrctions) c d Credit for prior year minimm tax (attach Form 8801 or 887) d e Total credits. Add lines 41a throgh 41d e a b c d e f Sbtract line 41e from line Other taxes. Check if from: Form 455 Form 8611 Form 8697 Form 8866 Other (att. sch.) Total tax. Add lines 4 and Total payments. Add lines 45a throgh 45g Estimated tax penalty (see instrctions). Check if Form 0 is attached X Tax de. If line 46 is less than the total of lines 44 and 47, enter amont owed , Overpayment. If line 46 is larger than the total of lines 44 and 47, enter amont overpaid Enter the amont of line 49 yo want: Credited to 018 estimated tax Refnded 50 Part V Statements Regarding Certain Activities and Other Information (see instrctions) 51 At any time dring the 017 calendar year, did the organization have an interest in or a signatre or other athority Yes No over a financial accont (bank, secrities, or other) in a foreign contry? If YES, the organization may have to file 5 53 g Paid Preparer Use Only Enter yor share of the $50,000, $5,000, and $9,95,000 taxable brackets (in that order): Payments: A 016 overpayment credited to estimated tax payments Tax deposited with Form Foreign organizations: Tax paid or withheld at sorce (see instrctions) Backp withholding (see instrctions) Credit for small employer health insrance premims (Attach Form 8941) Other credits and payments: Form 439 Form 4136 Other Total FinCEN Form 114, Report of Foreign Bank and Financial Acconts. If YES, enter the name of the foreign contry here Dring the tax year, did the organization receive a distribtion from, or was it the grantor of, or transferor to, a foreign trst? If YES, see instrctions for other forms the organization may have to file. Enter the amont of tax-exempt interest received or accred dring the tax year $ Under penalties of perjry, I declare that I have examined this retrn, inclding accompanying schedles and statements, and to the best of my knowledge and belief, it is tre, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge. Signatre of officer Date Title Print/Type preparer's name 45a 45b 45c 45d 45e 45f 45g CEO/Corp Secretary 35c May the IRS discss this retrn with the preparer shown below (see instrctions)? Yes No David C. Logan, CPA David C. Logan, CPA 09/05/18 self-employed P Firm's name } Firm's EIN } Firm's address Realtors Association of Lake & } Preparer's signatre Estis, FL Phone no Date 40 Check if X PTIN Logan, Bowyer & McCllogh, P.A S Bay St X X 9/15 INT 16 FTP 148 TOT 7,953

3 REAL761 09/05/018 Pg 40 Page 3 Schedle A Cost of Goods Sold. Enter method of inventory valation 1 Inventory at beginning of year Inventory at end of year Prchases Cost of goods sold. Sbtract 3 Cost of labor line 6 from line 5. Enter here and 4a Additional sec. 63A costs in Part I, line b (attach schedle) Other costs a 8 Do the rles of section 63A (with respect to (attach schedle) b property prodced or acqired for resale) apply to the organization? Total. Add lines 1 throgh 4b Schedle C Rent Income (From Real Property and Personal Property Leased With Real Property) (see instrctions) 1. Description of property Total. Rent received or accred Total (c) Total. Add totals of colmns (a) and (b). Enter here and on page 1, Part I, line 6, colmn (A) Schedle E Unrelated Debt-Financed Income (see instrctions) (a) From personal property (if the percentage of rent (b) From real and personal property (if the 3(a) Dedctions directly connected with the for personal property is more than 10 bt not percentage of rent for personal property exceeds in colmns (a) and (b) (attach schedle) Realtors Association of Lake & more than 50) 50 or if the rent is based on profit or ). Gross from or 1. Description of debt-financed property allocable to debt-financed 4. Amont of average 5. Average adjsted basis acqisition debt on or of or allocable to allocable to debt-financed debt-financed property property (attach schedle) (attach schedle) Totals (b) Total dedctions. Enter here and on page 1, Part I, line 6, colmn (B) Total dividends-received dedctions inclded in colmn property 6. Colmn 4 divided by colmn 5 3. Dedctions directly connected with or allocable to (a) Straight line depreciation (attach schedle) 7. Gross reportable (colmn x colmn 6) debt-financed property (b) Other dedctions (attach schedle) 8. Allocable dedctions (colmn 6 x total of colmns 3(a) and 3(b)) Enter here and on page 1, Enter here and on page 1, Part I, line 7, colmn (A). Part I, line 7, colmn (B). Yes No

4 REAL761 09/05/018 Pg 41 Page 4 Schedle F Interest, Annities, Royalties, and Rents From Controlled Organizations (see instrctions) Exempt Controlled Organizations 1. Name of controlled organization Nonexempt Controlled Organizations Realtors Association of Lake & Employer identification nmber 3. Net nrelated (loss) (see instrctions) 4. Total of specified payments made 5. Part of colmn 4 that is inclded in the controlling organization's gross 6. Dedctions directly connected with in colmn 5 7. Taxable Income 8. Net nrelated (loss) (see instrctions) 9. Total of specified payments made 10. Part of colmn 9 that is inclded in the controlling organization's gross 11. Dedctions directly connected with in colmn 10 Add colmns 5 and 10. Enter here and on page 1, Part I, line 8, colmn (A). Totals Schedle G Investment Income of a Section 501(c)(7), (9), or (17) Organization (see instrctions) Add colmns 6 and 11. Enter here and on page 1, Part I, line 8, colmn (B). 3. Dedctions 5. Total dedctions 1. Description of. Amont of directly connected 4. Set-asides and set-asides (col. 3 (attach schedle) (attach schedle) pls col.4) Enter here and on page 1, Enter here and on page 1, Part I, line 9, colmn (A). Part I, line 9, colmn (B). Totals Schedle I Exploited Exempt Activity Income, Other Than Advertising Income (see instrctions) 1. Description of exploited activity. Gross 3. Expenses nrelated directly bsiness connected with prodction of from trade or nrelated bsiness bsiness 4. Net (loss) from nrelated trade or bsiness (colmn mins colmn 3). If a gain, compte cols. 5 throgh Gross from activity that is not nrelated bsiness 7. Excess exempt 6. Expenses expenses attribtable to (colmn 6 mins colmn 5 colmn 5, bt not more than colmn 4). Enter here and on Enter here and on Enter here and page 1, Part I, page 1, Part I, on page 1, line 10, col. (A). line 10, col. (B). Part ll, line 6. Totals Schedle J Advertising Income (see instrctions) Part I Income From Periodicals Reported on a Consolidated Basis 1. Name of periodical Realtor Digest/W 3,960 4, Advertising 7. Excess readership. Gross gain or (loss) (col. costs (colmn 6 advertising 3. Direct 5. Circlation 6. Readership mins col. 3). If mins colmn 5, bt advertising costs costs a gain, compte not more than cols. 5 throgh 7. colmn 4). Totals (carry to Part II, line (5))... 3,960 4,

5 REAL761 09/05/018 Pg 4 4. Advertising 7. Excess readership. Gross gain or (loss) (col. costs (colmn 6 advertising 3. Direct 5. Circlation 6. Readership 1. Name of periodical mins col. 3). If mins colmn 5, bt advertising costs costs a gain, compte not more than cols. 5 throgh 7. colmn 4). Totals from Part I ,960 4,500 Enter here and on Enter here and on page 1, Part I, page 1, Part I, line 11, col. (A). line 11, col. (B). Totals, Part II (lines 1-5) ,960 4,500 Schedle K Compensation of Officers, Directors, and Trstees (see instrctions) Part II Realtors Association of Lake & Income From Periodicals Reported on a Separate Basis (For each periodical listed in Part II, fill in colmns throgh 7 on a line-by-line basis.) Total. Enter here and on page 1, Part ll, line 14 Enter here and on page 1, Part ll, line Percent of 4. Compensation attribtable to 1. Name. Title time devoted to nrelated bsiness bsiness Page 5

6 REAL761 Realtors Association of Lake & 9/5/ Federal Statements Page 1 FYE: 1/31/017 Statement 1 - Form 990-T, Part II, Line 18 - Interest Description Amont Mortgage Interest $ 1,80 Total $ 1,80 Statement - Form 990-T, Part II, Line 8 - Other Dedctions Description Amont Acconting $ 1,03 Brokers Concil 141 Bilding Insrance 703 Collection expense 49 Eqipment lease 4,881 Legal 4,960 Loss on assets disposed Office Spplies 548 3,498 Orientation Postage 4, Professional Dev/Standards Promotional Representation 11,518 Software and Spport 9,16 Staff Training 383 Sbscriptions and Pb 151 Telephone 474 Transportation 304 Utilities Workers Comp 4,33 88 Total $ 47,586 1-

7 REAL761 09/05/018 Pg 47 Form Department of the Treasry Internal Revene Service Name(s) shown on retrn Bsiness or activity to which this form relates Part I 456 (99) Indirect Depreciation (a) Description of property Depreciation and Amortization (Inclding Information on Listed Property) Attach to yor tax retrn. Go to for instrctions and the latest information. Realtors Association of Lake & Identifying nmber Smter Conties Inc Election To Expense Certain Property Under Section 179 Note: If yo have any listed property, complete Part V before yo complete Part I. Maximm amont (see instrctions) Total cost of section 179 property placed in service (see instrctions) Threshold cost of section 179 property before redction in limitation (see instrctions) Redction in limitation. Sbtract line 3 from line. If zero or less, enter Dollar limitation for tax year. Sbtract line 4 from line 1. If zero or less, enter -0-. If married filing separately, see instrctions (b) Cost (bsiness se only) (c) Elected cost OMB No Attachment Seqence No ,000,030,000 7 Listed property. Enter the amont from line Total elected cost of section 179 property. Add amonts in colmn (c), lines 6 and Tentative dedction. Enter the smaller of line 5 or line Carryover of disallowed dedction from line 13 of yor 016 Form Bsiness limitation. Enter the smaller of bsiness (not less than zero) or line 5 (see instrctions) Section 179 expense dedction. Add lines 9 and 10, bt don't enter more than line Carryover of disallowed dedction to 018. Add lines 9 and 10, less line Note: Don't se Part II or Part III below for listed property. Instead, se Part V. Part II Special Depreciation Allowance and Other Depreciation (Don't inclde listed property.) (See instrctions.) 14 Special depreciation allowance for qalified property (other than listed property) placed in service dring the tax year (see instrctions) Property sbject to section 168(f) election Other depreciation (inclding ACRS) Part III MACRS Depreciation (Don't inclde listed property.) (See instrctions.) Section A 17 MACRS dedctions for assets placed in service in tax years beginning before If yo are electing to grop any assets placed in service dring the tax year into one or more general asset acconts, check here Section B Assets Placed in Service Dring 017 Tax Year Using the General Depreciation System 19a b c d e f g h i (a) Classification of property 3-year property 5-year property 7-year property 10-year property 15-year property 0-year property 5-year property Residential rental property Nonresidential real property (b) Month and year (c) Basis for depreciation (d) Recovery placed in (bsiness/investment se service only see instrctions) period (e) Convention (f) Method (g) Depreciation dedction 5 yrs. 7.5 yrs. MM 7.5 yrs. MM 39 yrs. MM MM Section C Assets Placed in Service Dring 017 Tax Year Using the Alternative Depreciation System 0a Class life b 1-year 1 yrs. c 40-year 40 yrs. MM Part IV Smmary (See instrctions.) 1 Listed property. Enter amont from line Total. Add amonts from line 1, lines 14 throgh 17, lines 19 and 0 in colmn (g), and line 1. Enter here and on the appropriate lines of yor retrn. Partnerships and S corporations see instrctions For assets shown above and placed in service dring the crrent year, enter the portion of the basis attribtable to section 63A costs For Paperwork Redction Act Notice, see separate instrctions. There are no amonts for Page 5,418 6,144 31,56 Form 456 (017)