which of the following is an example of an exempt organizati

which of the following is an example of an exempt organization that may be subject to unrelated business income tax?

college bookstore that sells collegiate clothing

a hospital gift shop that sells flowers

a church that rents its non debt-fianced basement to a for profit organization monthly

Solution

Solution: college bookstore that sells collegiate clothing

Explanation: It is an income from an unrelated trade which primarily done for the convenience of the students, thus is not taxable and excluded from unrelated business income tax