Interest expense for UBTI purposes. (unrelated business taxable income): An article from: The Tax Adviser

by Barry Sunshine

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This digital document is an article from The Tax Adviser, published by American Institute of CPA's on October 1, 1997. The length of the article is 586 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: IRS Letter Ruling 9717004 provides guidance in situations where tax-exempt organizations have debt-financed income which is section 514 taxable unrelated business income. Tax-exempt organizations must apply the same debt/basis percentage they use for other deductions with a resulting loss of a percentage of their interest expense. Property considered in the computation of the debt/basis percentage includes all securities purchased.

Citation Details
Title: Interest expense for UBTI purposes. (unrelated business taxable income)
Author: Barry Sunshine
Publication: The Tax Adviser (Magazine/Journal)
Date: October 1, 1997
Publisher: American Institute of CPA's
Volume: 28 Issue: n10 Page: 625(2)

Distributed by Thomson Gale

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