Question
LiftUp of Grand County collected $600,000 of donations in 2019. It also earned $200,000 income from its thrift store, which sells a wide range of
LiftUp of Grand County collected $600,000 of donations in 2019. It also earned $200,000 income from its thrift store, which sells a wide range of valued merchandise and is managed by three parttime volunteers. For 2019, LiftUps tax status is:
a. Lift Up fails the external support test
b. Lift Ups taxable income is $200,000
c. Lift Ups UBTI is $600,000
d. LiftUp is not subject to UBTI tax
e. Lift Ups tax on UBTI is $41,790
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Cost Benefit Analysis Concepts And Practice
Authors: Anthony E. Boardman, David H. Greenberg, Aidan R. Vining, David L. Weimer
5th Edition
1108401295, 978-1108401296
