Skip to Main Content
GiftLaw Pro
Charitable Giving & Tax Information Service
Back to Gift Planning Website
GiftLaw Pro Home
>
Chapter 4 - Specific Property Gifts
>
4.14 Subchapter S Corporations
>
4.14.3 Sub S Unitrust
> Basic Quiz
Basic Quiz - 4.14.3 Sub S Unitrust
1. Public charities are permitted to hold shares of S corporations.
True
False
2. Charitable remainder trusts may own S corporation stock.
True
False
3. Charitable remainder trusts may own C corporation stock.
True
False
4. All S corporation income is unrelated business income ("UBI") when received by a charity.
True
False
5. A charity may sell S corporation stock tax free in the same way it may sell C corporation stock tax free.
True
False
6. A charitable remainder trust has to pay tax on UBI.
True
False
7. An S corporation itself may create a charitable remainder trust.
True
False
8. Charitable remainder trusts are subject to the private foundation prohibition on excess business holdings.
True
False
9. A charitable remainder trust funded with S corporation assets must be for a term of years.
True
False
10. A private foundation is a permissible S corporation shareholder.
True
False
