NOT22108. Basic UBI & 990-T

This workshop will revisit unrelated business income in light of evolving TCJA guidance. We will walk through the assessment of UBI, exploring its rules, exclusions and exceptions, and dive into the most common types of UBI, including advertising/qualifying sponsorship, rental income, debt financed income and alternative investments. We will also review the recently updated Form 990-T and explore the basics of the reporting requirements for UBI silos.

Learning Objectives:

• Recall the definition of an unrelated business activity and the various exclusions and exceptions
• Identify the updated Form 990-T
• Recall the basics of reporting and tracking net operating losses
• Analyze common unrelated business income activities reported by nonprofits, including rental, debt financed income and advertising