What is unrelated business gross income?
47 views |
Last modified 4/16/2024 2:20:48 AM EST |
An exempt organization's unrelated business gross income is the income produced by the organization through activities unrelated to scientific, educational, charitable, or any other tax-exempt purposes. Organizations with an unrelated business gross income of $1,000 or more must file Form 990-T.
Certain foundations are also liable to pay taxes on their unrelated business income if their estimated tax is $500 or more. This income can be calculated using Form 990-T and must be paid in installments.
Need more help?
Get in touch with our dedicated support team Contact Us