LO.6 Sight, Inc., a tax-exempt organization that trains the visually impaired to restore and tune pianos, receives
Question:
LO.6 Sight, Inc., a tax-exempt organization that trains the visually impaired to restore and tune pianos, receives pianos as contributions. When the number of pianos on hand exceeds 15, Sight sells the excess; the pianos used in the training program the longest are sold first. Is the revenue from the sale of the excess pianos subject to the UBIT?
Explain.
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Related Book For 
South Western Federal Taxation 2013 Corporations Partnerships Estates And Trusts
ISBN: 9781133495574
36th Edition
Authors: William H. Hoffman, William A. Raabe, James E. Smith, David M. Maloney
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