What is the form used for?
- A homeowners association files Form 1120-H as its income tax return to take advantage of certain tax benefits. These benefits, in effect, allow the association to exclude exempt function income from its gross income.
Is the form Supported in our program? The form is supported on the desktop package only.
How to access the form: While in a return, use the Add Form function to add a new 1120-H form to the return.
Limits to the form: This form is only available in the Miscellaneous package.
IRS Publication: https://www.irs.gov/forms-pubs/about-form-1120-h