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Calculate Upward and Onward UBIT

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Reference no: EM132663670

Problem - Upward and Onward, Inc., a § 501(c)(3) organization that provides training programs for government assistance recipients, reports the following income and expenses from the sale of products associated with the training program. Calculate Upward and Onward's UBIT.

Gross income from sales $425,000

Cost of goods sold 106,000

Advertising and selling expenses 26,000

Administrative expenses 112,500

Required -

a. Assume that the sale of the training program products is substantially related to Upward and Onward's exempt purpose.

b. Assume that the sale of the training program products is not substantially related to Upward and Onward's exempt purpose.

Reference no: EM132663670

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