What form must associations with more than $1,000 annual gross unrelated business income file?

Associations with more than $1,000 in annual gross unrelated business income must file IRS form 990-T. This form is specifically designed for reporting unrelated business income for tax-exempt organizations, which includes associations. The primary purpose of IRS form 990-T is to calculate and report the tax owed on this unrelated income, ensuring that organizations remain compliant with IRS regulations regarding unrelated business activities.

When an organization exceeds the $1,000 threshold of unrelated business income, it is crucial to file this specific form rather than other forms like 990, 990-EZ, or 1040. The 990 and 990-EZ forms cater to broader financial reporting for tax-exempt organizations but are not focused solely on the tax implications of unrelated business income. IRS form 1040 is for individual income tax filers and does not apply to organizations, further solidifying why 990-T is the appropriate choice for associations encountering unrelated business income.