Federal U.S. Income Tax Return for Homeowners Associations

U.S. Income Tax Return for Homeowners Associations
2023 Form 1120-H
Form

1120-H

Department of the Treasury
Internal Revenue Service

U.S. Income Tax Return
for Homeowners Associations

2023

Go to www.irs.gov/Form1120H for instructions and the latest information.

For calendar year 2023 or tax year beginning
TYPE
OR
PRINT

OMB No. 1545-0123

, 2023, and ending

, 20

Name

Employer identification number

Number, street, and room or suite no. If a P.O. box, see instructions.

Date association formed

City or town, state or province, country, and ZIP or foreign postal code

Check if:
(1)
Final return
(2)
Name change
(3)
Address change
(4)
A
Check type of homeowners association:
Condominium management association
Residential real estate association
B
Total exempt function income. Must meet 60% gross income test. See instructions . . . . . .
C
Total expenditures made for purposes described in 90% expenditure test. See instructions . . . .
D
Association’s total expenditures for the tax year. See instructions . . . . . . . . . . . .
E
Tax-exempt interest received or accrued during the tax year . . . . . . . . . . . . . .

Amended return
Timeshare association
B
C
D
E

Gross Income (excluding exempt function income)
1
2
3
4
5
6
7
8

Dividends . . . . . . . . . . . . . . . . . . . . . .
Taxable interest . . . . . . . . . . . . . . . . . . . .
Gross rents . . . . . . . . . . . . . . . . . . . . .
Gross royalties . . . . . . . . . . . . . . . . . . . .
Capital gain net income (attach Schedule D (Form 1120)) . . . . . .
Net gain or (loss) from Form 4797, Part II, line 17 (attach Form 4797) . .
Other income (excluding exempt function income) (attach statement) . .
Gross income (excluding exempt function income). Add lines 1 through 7

.
.
.
.
.
.
.
.

.
.
.
.
.
.
.
.

.
.
.
.
.
.
.
.

.
.
.
.
.
.
.
.

.
.
.
.
.
.
.
.

.
.
.
.
.
.
.
.

.
.
.
.
.
.
.
.

.
.
.
.
.
.
.
.

.
.
.
.
.
.
.
.

1
2
3
4
5
6
7
8

Deductions (directly connected to the production of gross income, excluding exempt function income)
9
10
11
12
13
14
15
16
17
18

Salaries and wages . . . . . . . . . . . . . . . . . . .
Repairs and maintenance . . . . . . . . . . . . . . . . .
Rents . . . . . . . . . . . . . . . . . . . . . . . .
Taxes and licenses . . . . . . . . . . . . . . . . . . . .
Interest . . . . . . . . . . . . . . . . . . . . . . .
Depreciation (attach Form 4562) . . . . . . . . . . . . . . .
Other deductions (attach statement) . . . . . . . . . . . . . .
Total deductions. Add lines 9 through 15 . . . . . . . . . . . .
Taxable income before specific deduction of $100. Subtract line 16 from line 8
Specific deduction of $100 . . . . . . . . . . . . . . . . .

.
.
.
.
.
.
.
.
.
.

.
.
.
.
.
.
.
.
.
.

.
.
.
.
.
.
.
.
.
.

.
.
.
.
.
.
.
.
.
.

.
.
.
.
.
.
.
.
.
.

.
.
.
.
.
.
.
.
.
.

.
.
.
.
.
.
.
.
.
.

.
.
.
.
.
.
.
.
.
.

9
10
11
12
13
14
15
16
17
18

.
.
.
.

.
.
.
.

.
.
.
.

.
.
.
.

.
.
.
.

19
20
21
22

.
.
.

. . . .
. . . .
. . . .
Refunded

$100

Tax and Payments
19
20
21
22
23a
b
c
d
e
f
g
24
25
26

Sign
Here

Taxable income. Subtract line 18 from line 17 . . . . . . . . . . . . .
Enter 30% (0.30) of line 19. (Timeshare associations, enter 32% (0.32) of line 19.) . .
Tax credits (see instructions) . . . . . . . . . . . . . . . . . . .
Total tax. Subtract line 21 from line 20. See instructions for recapture of certain credits
Preceding year’s overpayment credited to the current year . . . . . .
23a
Current year’s estimated tax payments . . . . . . . . . . . . .
23b
Tax deposited with Form 7004 . . . . . . . . . . . . . . . .
23c
Credit for tax paid on undistributed capital gains (attach Form 2439) . . .
23d
Credit for federal tax paid on fuels (attach Form 4136) . . . . . . . .
23e
Elective payment election amount from Form 3800 . . . . . . . . .
23f
Total payments and credits. Combine lines 23a through 23f
. . . . . . . .
Amount owed. Subtract line 23g from line 22. See instructions . . . . . . . .
Overpayment. Subtract line 22 from line 23g . . . . . . . . . . . . . .
Enter amount of line 25 you want: Credited to 2024 estimated tax

23g
24
25
26

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is
true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.

Signature of officer

Paid
Preparer
Use Only

Print/Type preparer’s name

Date
Preparer’s signature

May the IRS discuss this return
with the preparer shown below?
See instructions.
Yes
No

Title
Date

Firm’s name

PTIN

Firm’s EIN

Firm’s address

For Paperwork Reduction Act Notice, see separate instructions.

Check
if
self-employed

Phone no.
Cat. No. 11477H

Form 1120-H (2023)