JimC10 (Virginia)
Posts: 4
Posts: 4
Posted:
Could someone provide me a sample of what a HOA tax return would look like (1120-H)? Do HOA have to file the return yearly if a year or two they didn't earn over $100 in interest from a reserve account?
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HOA taxes
Started by JimC10 • 1 replies • 1459 views
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MaryA1 (Arizona)
Posts: 7,043
Posts: 7,043
Posted:
Jim,
You can go to the IRS website and view a copy of the Form 1120-H along with the instructions -- www.irs.gov.
Although it's not necessary to file a tax return if you don't owe any $$$ or aren't getting a refund; however, I think it may be a good idea for the HOA to file anyway if only to avoid getting a letter from the IRS. Of course you could call the IRS and pose the question: 1-800-829-1040. And, don't forget to file a state tax return, that is if your state requires it.
You can go to the IRS website and view a copy of the Form 1120-H along with the instructions -- www.irs.gov.
Although it's not necessary to file a tax return if you don't owe any $$$ or aren't getting a refund; however, I think it may be a good idea for the HOA to file anyway if only to avoid getting a letter from the IRS. Of course you could call the IRS and pose the question: 1-800-829-1040. And, don't forget to file a state tax return, that is if your state requires it.
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