Question 7 of 75. will calculate his net investment income tax on dividends. $2.500 of rental income and $25,000 of capital gains. He has no other investment income and none of the income is from a trade or business. Edward $29,500 O $32,000 O $39,500 $241,000 Mark for follow up Question 13 of 75. Which of the following is an example of an exempt organization that may be subject to unrelated business income tax? O A college bookstore that sells collegiate clothing. A hospital gift shop that sells flowers. O A church that rents its non-debt financed basement to a for-profit organization monthly. An animal shelter that sells pet food. Mark for follow up Each of the following is subject to the tax on unrelated business taxable income EXCEPT Coverdell Savings Accounts Medical savings accounts (MSA). Rental income that is based upon a percentage of net income of the less Research income for the United States, any of its agencies or instrumentalities, or a state or any of its political subdivisions. Mark for follow up Question 16 of 75. The Town Library, a tax-exempt organization, has unrelated business taxable income of 557,850. How much tax is due on the unrelated O 50 O $5.785 O $11,939 $19.791 Mark for follow up Question 17 of 75 What is the amount of the specific deduction an exempt organization is generally permitted on Form 990-T? $100 O $1,000 2% of gross receipts 5% of gross receipts Mark for follow up Back Save / Return Later Summary Next >>