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Which of income items earned by a qualified charity

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Problem 1: Which of the following income items earned by a qualified charity is subject to taxation as unrelated business income?

Option 1: A university sells sports clothing with the proceeds used to fund athlete scholarships.

Option 2: A charity fighting cancer operates a store run by volunteers who bake and sell bread.

Option 3: An organization that ministers to war veterans operates a weekly bingo game in a state where such activity is legal.

Option 4: A homeless shelter sells appliances donated to the charity.

Reference no: EM132940759

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