Home Owners Association Tax return

[MAXINE UPCHURCH]

Hello, 

My name is Maxine and i came across your page online and I wanted to submit a question about preparing a tax return for home owners associations. I couldn't find it in 

your search file option.  I have a new tax client that asked if I new how to prepare a tax return for her home owner association and I told her I didn't but i will try to find some information on how to preparer the tax return before I accept the task to do it.  Asking is there any information listed on this platform that could help me? 

Thanking you in advance for your assistance. 

 

 

Sincerely, 

 

Maxine Upchurch

 

 

[GLJEANNE]

You file 1120-H.  The instructions are pretty clear.  I'm not doing any this any longer, but had a couple for years.

[Lion EA]

Using the search file option:

Using IRS.gov:

https://www.irs.gov/government-entities/irc-section-501c4-homeowners-associations

https://www.irs.gov/pub/irs-pdf/i1120h.pdf

[DBerg]

I believe that the 1120-H is now e-fileable through ATX. I have not done one yet

[Terry D EA]

There may be more to this. HOA's that are incorporated either file form 1120 or 1120H. If the HOA meets the 60/90 rule then form 1120H would be used. If not, they must file 1120. If it were me, there would be a lengthy interview with the client to determine the correct form to file. And yes, this is the first year that fom 1120H can be electronically filed.

[Lion EA]

I've heard preparers say that they run the numbers both ways, 1120 vs 1120H, to see when is better for their client for that year. Apparently, it's a year-by-year elections to file 1120H, confirm that for yourself. (Haven't had an HOA client for years.)