标题: Foundation Taxes [打印本页] 作者: DoubleDip 时间: 2011-7-11 19:35 标题: Foundation Taxes
QBank reports that:
"Private foundations investment income is taxable"
The only thing I can find that relates to this, is unrelated business income (e.g. a foundation to keep drugs off the street opens up a chain of burger restaurants).
QBank does not appear to be relating this only to unrelated business income, because the question referred to private foundations as being taxable when the other foundation types are not.
I think this is wrong - has anyone else come across this in QBank and/or have a justification? Sorry I didn't keep track of the Q number.作者: thommo77 时间: 2011-7-11 19:35
Do you have a page reference?作者: jmh530 时间: 2011-7-11 19:35
CPierce is totally right.
I wrote this in my notes too based on the CFAI Curriculum Textbook, but none of the CFAI/Schweser Answers I've come across mention this point under IPS Tax Constraints for a Foundation.
