Which one of the following types of investment income generally results in unrelated business taxable income...
Which one of the following types of investment income generally results in unrelated business taxable income (UBTI) for a qualified plan trust?
dividends from stock investments purchased with cash
partnership income from a limited partnership interest in an oil and gas exploration company
interest income from certificates of deposit
rents collected from direct real property investments
Homework Answers
Unrelated business taxable income (UBTI) is not related to main function of entity but still it generates bit income. Passive income sources as per IRS such as dividends, interest income and capital gains are not to be treated as UBTI. Qualified trust plan has rent income from direct real property investments. Being direct investment, it is business taxable income. The odd one is partnership income. The main objective of qualified trust is to invest and earn directly and not engage in forming new corporation to earn. This has been done in opening new partnership. Hence, partnership income is UBTI,
Thus, correct option is partnership income from limited partnership interest in an oil and gas exploration company.
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