TG 48: Unrelated — Publication 5894

This document is not an official pronouncement of the law or the position of the Service and cannot be used, cited, or relied upon as such. This guide is current through the revision date. Since changes may have occurred after the revision date that would affect the accuracy of this document, no guarantees are made concerning the technical accuracy after the revision date. All references to Section throughout this document refer to the Internal Revenue Code unless specifically noted otherwise. The taxpayer names and addresses shown in this publication are hypothetical.

Technical Guide Revision Date: 12/15/2023

Publication 5894 (12-2023) Catalog Number 94538H Department of the Treasury Internal Revenue Service www.irs.gov

Table of Contents¶

I. Overview…¶

TG 48: Unrelated Business Income Tax

Table of Contents¶

I. Overview…¶

C.5. Retail Merchants…¶

G.2. Investment Activities ..........................................................…¶

C. Treatment of Title Holding Companies ....................................... 67 D.…¶

I.10. Lending of Securities ..........................................................…¶

C.1. Option Lapse Income ........................................................ 102…¶

IX. Examination Techniques…¶