Unincorporated Business Assn

Our Golf Club has a profit of $ 249 in 2018.  Do we have to file a return.  And can I use TT Premier to do so?

SarahM
New Member

Business & farm

An unincorporated social club falls under the category of an exempt organization under IRC Section 501(c). As such, a tax return is not required, however, you will need to file an annual information report for small exempt organizations, as described in the below link:

https://www.irs.gov/charities-non-profits/annual-electronic-filing-requirement-for-small-exempt-orga...