Section 06 - Field Descriptions

Section 06 Fields are located in Form 990-PF, Part V.

All of the Fields in Section 06 are dollars and cents.

All Fields are positive only except Field 06B/R, Tax Due/Overpayment.

Listed below are the Fields contained in Section 06 showing the Field Designator, title, location on the return, and maximum length:

No.

Field

Field Title

Location

Max Length

0601

Excise Tax

Line 1

12

Excise Tax Underprint

Computer-generated

12

06VT1

Verified Excise Tax

ERS Input Only

13

0602

Tax Under Section 511

Line 2

12

0604

Subtitle A Tax

Line 4

12

0605

Tax on Investment Income

Line 5

13

Tax on Investment Income Underprint

Computer-generated

13

06VT5

Gross Verified Tax

ERS Input Only

13

0606A

ES Tax Credit

Line 6a

11

0606B

Tax Withheld at Source

Line 6b

11

0606C

Tax Paid with Extension

Line 6c

12

0606D

Backup Withholding

Line 6d

12

0607>

Total Credits/Payments Computer

Line 7

12

0608

ES Tax Penalty

Line 8

11

06B/R

Tax Due/Overpayment

Lines 9/10

12

Tax Due/Overpayment Underprint

Computer-generated

12

06CRE

Credit Elect

Line 11

11

Field 0601, Excise Tax, is located on Form 990-PF, Part V, Line 1.

Invalid Conditions:

This Field is invalid if not numeric.

Correction Procedures:

Correct any coding or transcription errors.

The computer uses Field 0427B, Net Investment Income computer-generated, to compute Field 0601 computer-generated.

The tax rate for Type of Organization "3" and "6" is as follows:

Rate .01 - if Field 01RED, 4940 Code, is "3" .

Rate .02 - if Field 01RED is blank.

The tax rate for Foreign Organizations (Field 01ORG) is"4" , "5" , "7" or "8" is as follows:

Rate .04 - if Field 01ORG is "4" or "7" .

Field 0601 is 0 (zero) if Field 01ORG is "5" or "8" .

Field 0602 - Tax Under Section 511

Field 06VT1, Verified Excise Tax, is for ERS input only. The Field is used when manual computation of the tax is required.

Invalid Conditions:

This Field is invalid if not numeric.

Field 0602, Tax Under Section 511, is located on Form 990-PF, Part V, Line 2.

This tax is valid for Organization "3" and "6" and is used to compute Field 0605, Total Gross Tax.

Invalid Conditions:

This Field is invalid if not numeric.

Correction Procedures:

Correct any coding or transcription errors.

Field 0604, Subtitle A Tax, is located on Form 990-PF, Part V, Line 4.

This Tax is valid for Organization "3" and "6" and is used to compute Field 0605, Total Gross Tax.

Invalid Conditions:

This Field is invalid if not numeric.

Correction Procedures:

Correct any coding or transcription errors.

Field 0605, Total Gross Tax, is located on Form 990-PF, Part V, Line 5.

Field 0605, Total Gross Tax underprint, is the sum of:

Field 0601, Excise Tax, plus

Field 0602, Tax Under Section 511, minus

Field 0604, Subtitle A Tax.

Invalid Conditions:

This Field is invalid if not numeric.

Correction Procedures:

Correct any coding or transcription errors.

Field 06VT5, Gross Verified Tax, is for ERS input only. The Field is used when manual computation of the tax is required.

Invalid Conditions:

This Field is invalid if not numeric.

Field 0606A, Estimated Tax Payments, is located on Form 990-PF, Part V, Line 6a.

This Field is used to compute Field 06B/R, Tax Due/Overpayment. Accept the amount shown on the return.

Invalid Conditions:

This Field is invalid if not numeric.

Correction Procedures:

Correct any coding or transcription errors.

Field 606B, Tax Withheld at Source, is located on Form 990-PF, Part V, Line 6b.

Invalid Conditions:

This Field is invalid if not numeric.

Correction Procedures:

Correct any coding or transcription errors.

Field 0606C, Tax Paid-with Extension, is located on Form 990-PF, Part V, Line 6c.

This Field is used to compute Field 06B/R, Tax Due/Overpayment. Accept the amount shown on the return.

Invalid Conditions:

This Field is invalid if not numeric.

Correction Procedures:

Correct any coding or transcription errors.

Field 0606D, Backup Withholding, is located on Form 990-PF, Part V, Line 6d.

This Field is used to compute Field 06B/R, Tax Due/Overpayment.

Invalid Conditions:

This Field is invalid if not numeric.

Correction Procedures:

Correct from Form 1099, Miscellaneous Information, W-2, etc.

Correct any coding or transcription errors.

Field 0607>, Total Credits/Payment Computer, is the total of Field 0606A, Estimated Tax Credit, Field 0606B, Tax Withheld at Source, Field 0606C, Tax Paid With Extension, and Field 0606D, Backup Withholding.

Field 0608, Estimated Tax Penalty, is located on Form 990-PF, Part V, Line 8.

Invalid Conditions:

This Field is invalid if not numeric.

Correction Procedures:

Correct any coding or transcription errors.

Field 06B/R, Tax Due/Overpayment, is located on Form 990-PF, Part V, Line 9 or 10.

Tax Due/Overpayment generated computation is:

Field 0605, minus,

Field 0606A, minus,

Field 0606B, minus,

Field 0606C, minus,

Field 0606D, plus,

Field 0608.

Invalid Conditions:

This Field is invalid if not numeric.

Correction Procedures:

Correct any coding or transcription errors.

Field 06CRE, Credit Elect, is located on Form 990-PF, Part V, Line 11.

Invalid Conditions:

This Field is invalid if not numeric.

Correction Procedures:

Correct any coding or transcription errors.