The TurboTax help topic relating to Form 1120-H was not all that helpful in the sense that there were no instructions concerning how to complete the form. Note that HOAs can file either Form 1120 or Form 1120-H.
I cannot vouch for the web site at the link below, but there is some useful information.
https://hoatax.com/irs-form-1120h-understanding-tips
Frankly, if you are responsible for ensuring that an income tax return is prepared and filed for an HOA, you should seek guidance from a tax professional. The web site at the link above mentions some Form 1120-H pitfalls but I am not sure it mentions the most critical one; getting sued by the other members of the HOA if the tax return is not completed correctly and penalties/interest are due as a result because the responsible party did not hire a tax professional to prepare the return.
