Principles of Unrelated Business Income and Form 990-T Reporting Requirements (Currently Unavailable)
Author: Sarah Huang, Danielle Wright, Clark Nuber
| CPE Credit: |
2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC |
Nonprofit organizations are generally recognized as tax exempt, however, still may be subject to tax on unrelated business income. This course is designed to assist those working for nonprofit organizations as well as CPAs and others who consult with nonprofits to identify unrelated business income and be confident in calculating unrelated business taxable income. We will cover the three primary principles of unrelated business income as well as exceptions to those principles. We will also discuss common examples of unrelated business income, siloing rules, and Form 990-T reporting.
Publication Date: August 2021
Designed For
CPAs, CFOs, Controllers, Directors of Finance, Finance and Accounting Staff, bookkeepers, and others working with exempt organizations.
Topics Covered
- General Overview
- Criteria for Unrelated Business Income
- Separate Trade or Business Activities
- Rental Activities
- Advertising and Sponsorships
- Other Common Sources of UBI
- Form 990”T Reporting
Learning Objectives
- Recognize and apply the three principles of unrelated business income and apply those principles to activities commonly treated as unrelated
- Identify where exceptions or special rules exist to exclude an activity from unrelated business income
- Describe the siloing rules and the impact of those rules on Form 990-T reporting
- Describe the fragmentation rule
- Recognize when the final regulations are effective for tax years beginning on or after which date
- Identify the number of 2-digit NAICS codes to identify separate trade or business activities
- Recognize the percent of personal property rental results in no UBI, with respect to personal property rented with non-debt financed real property
- Identify which type of organizational structures results in all activity being UBI
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
None
Advance Preparation
None
