All
Homeowners’ associations (HOAs), condominium management associations, and timeshare associations that are required to report income and expenses to the Internal Revenue Service (IRS) must file Form 1120-H. This specialized income tax return is explicitly designed for qualifying community associations to report annual financial activity and claim certain tax benefits under federal law. By properly filing Form 1120-H, associations can exclude exempt function income—such as membership dues, assessments, and fees—from their gross income, thereby reducing their overall tax liability.
Read More
