Creating an Independent Expenditure is similar to creating a typical Expense transaction, as well as using the tags in the Support/Oppose section.
1. Create an Expense transaction as you normally would through either the Register or from within the entity’s record.
2. Towards the bottom of the transaction, click the Specify Support/Oppose box to display more fields.
3. Complete the fields and in the Tag drop down, choose either IE to Support or IE to Oppose, depending on the transaction needs.
The FEC has very specific guidelines as to how these are reported for when transactions occur in different report periods. If you pay for an Independent Expenditure in one period, but the Support/Oppose Memo is dated for a report period in the future, we first report the expense on Line 21b. Then, when the Independent Expenditure happens, we have to shift the expense from Line 21B to Line 24 on Schedule E. This is done by creating a negative expense on Line 21B and a positive expense on Line 24 of Schedule E.
As for the CA 460, there are specific data entry steps necessary in order to accomplish specific results on the compliance report.
- If you want the compliance report to check the Independent Expenditure and Support boxes, use the IE to Support tag.
- If you want the compliance report to check the Independent Expenditure and Oppose boxes, use the IE to Oppose tag.