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Business, 10.04.2020 19:21 maxy7347go

Third Church operates a gift shop in its parish house. The total income of the church is $800,000. Of this amount, $300,000 comes from offerings and $500,000 comes from the net income of the gift shop. The gift shop operations are conducted by six full-time, paid employees. Which of the following statements is correct?

a. The $300,000 is unrelated business income because the gift shop is a feeder organization.

b. The $800,000 is unrelated business income.

c. The $500,000 of gift shop net income is unrelated business income.

d. None of the $800,000 is unrelated business income.

e. The unrelated business income tax does not apply to churches.

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Third Church operates a gift shop in its parish house. The total income of the church is $800,000. O...
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