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UBIT/UDFI

  • UDFI

    • Unrelated Debt Financed Income TaxAny property held to produce income is debt-financed property if at any time during the tax year there was acquisition indebtedness outstanding for the property.

    UBIT

    • Unrelated Business Income Tax
    • If a tax exempt entity engages in a business that is unrelated to its primary purpose, any income derived from such business will be subject to UBIT
    • IRS Pub 598
    • UDFI & UBIT are reported on form 990-T
    • Instructions for the 990-T