Exempt organizations use Form 990-T to:
- Report unrelated business income.
- Figure and report unrelated business income tax liability.
- Report proxy tax liability.
- Claim a refund of income tax paid by a regulated investment company (RIC) or a real estate investment trust (REIT) on undistributed long-term capital gain.
- Request a credit for certain federal excise taxes paid or for small employer health insurance premiums paid,.
- Report unrelated business income tax on reinsurance entities.