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C Corporate Federal Income Tax

Level 1

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?

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2 Replies 2
Level 15

Why would the rent be tax exempt?

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Level 13

"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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