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We have a parsonage (no mortgage on the property) that will…

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We have a parsonage...

We have a parsonage (no mortgage on the property) that will be vacant in Florida. Since it currently is granted a tax-exempt status for property tax, can we rent to another non-profit without jeopardizing our exempt status?

Submitted: 1 month ago.Category: Tax
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Answered in 12 minutes by:
3/16/2018
Tax Professional: Barbara, Enrolled Agent replied 1 month ago
Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 5,793
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
Verified

Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.

Having Unrelated Business Income (UBI) does not jeopardize or remove tax exempt status.

UBI is income from a regularly-carried-on trade or business that is not related to your mission.

https://bizfluent.com/info-8710703-can-nonprofit-status-rental-property.html

http://info.legalzoom.com/can-501c3-rent-property-27071.html

Please let me know if I can assist you further.

Thank you and best regards,

Barb

Please let me know if I can assist you further.

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Tax Professional: Barbara, Enrolled Agent replied 1 month ago

Just following up with you to see if you have any other questions. If so, please let me know so I can continue to assist you.

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Barbara
Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 5,793
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