I have a filing tax question in regards to a C Corporation that is owned by a non-profit organization.
What forms need to be filed with the 1120 to have the rental income from the corporation exempt from federal income taxes?
"to have the rental income from the corporation exempt from federal income taxes"
As usual, more details and some Perspective always helps. Example dialog: A Church also owns low income housing, and is running that property as the C Corporation, but the Rental income is donated to the charity which operates the Day Care/Drop In Center in that same multi-unit building. Income "from" the corporation is going to the charity, then. That's Perspective.
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