When the income is derived simply from buying and selling, especially if there is value added through the process, then that typically will be viewed as conducting a trade or business, and if done on a regular or repeated basis, would have UBIT exposure.So it is not the notes, but the buy, remedy, resell model that create the exposure.

He was stating that the interpretation of that is where the presenter was possibly deriving an incorrect interpretation.

Just in case the seller becomes curious asks how I derived at my numbers.

A non profit means there is no intention to derive a profit for personal uses.

The others , 2% for low rents, 1.5% for higher rents, are derived from that.

But wasn’t it the derivatives on Wall Street that actually fueled these risky lending practices?

When his Dad retires, his income will be derived from his pension and/or 401k plus social security.

I am college educated, I have experience in building, as I was a lead OCIP administrator in my last job, so I understand the insurance end, and I used to document derivatives in the past as well.

In the US the short version of the tax code is, "income, from whatever source derived, is taxable".all cash

I have a 10 year trading background in financial derivatives, mostly options arbitrage and structured commodity deals.As a trader it is clear that it is much better to buy a stock (real estate) in a rising market than in a falling market.