Calculate Fish unrelated business taxable income

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Problem - Fish, Inc., an exempt organization, reports unrelated business income of $500,000 (before any charitable contribution deduction). During the year, Fish makes charitable contributions of $54,000, of which $38,000 is associated with the unrelated trade or business.

Required -

a. Calculate Fish's unrelated business taxable income (UBTI).

b. Express your computation in part (a) as a Microsoft Excel formula.

c. Assume instead that the charitable contributions are $41,000, of which $38,000 is associated with the unrelated trade or business. Calculate the UBTI.

Reference no: EM132650444

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