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Political Organization Filing Requirements: How Taxable Political Organization Completes Form 1120 POL

What does a political organization that is not exempt because it did not file Form 8871 report on Form 1120-POL?

In addition to reporting its investment income as discussed in Exempt Function Income Reporting Not Required, the political organization reports its exempt function income (contributions, etc.) as other income (line 7 on the 2009 form).  It may deduct the expenses directly related to earning that income (such as fundraising expenses), but may not deduct its political campaign expenses.

Page Last Reviewed or Updated: 23-Feb-2017