Turbo tax business had me download the NC State form 1120 /1120/H . I only completed the 1120 H information and it did fill out the NC CD 405 form which is all zeros. A Corporation is required to file a state return even if no taxes are due. My question is how do we know turbo tax is accurate for state when filling out the 1120H in forms? While the HOA is just a net zero in terms of owners paying and in and then paying for all the common expenses, the HOA does own common property and therefore has a balance sheet. So wondering if filing the State form without any other detail is correct from turbo tax?
