RCE Practice Questions - REALTOR Association Certified Executive (NAR) Exam

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A REALTOR association is organized as a not-for-profit under IRS Section 501(c)(6). What is the PRIMARY tax characteristic of a 501(c)(6) trade association?

Exempt from federal income tax on related business-league activities; contributions are NOT deductible as charitable gifts Exempt from federal income tax with charitable-contribution deductibility for donors Subject to corporate income tax on all activities Required to operate as a for-profit C corporation

Correct Answer:

Exempt from federal income tax on related business-league activities; contributions are NOT deductible as charitable gifts

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