An Activity Is Not an Unrelated Trade or Business for Purposes

question 70

True/False

An activity is not an unrelated trade or business for purposes of the unrelated business income tax (UBIT) unless it is profitable.

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Definitions:

Alignment Turntables

Devices placed under a vehicle's wheels allowing them to pivot easily, facilitating precise adjustments during wheel alignment procedures.

Protractor Scales

Measurement tools made of transparent plastic or metal with degree markings used to measure angles.

Turn Stop

Turn stop usually relates to a mechanical feature designed to limit the rotation angle of a component, ensuring controlled movement or positioning.

Toe-in

Refers to the alignment adjustment of the front wheels of a vehicle so that they are slightly closer to each other at the front than at the rear to improve steering precision and tire wear.