Help topic for form 1120-h

[DWHOATreasurer]

Is there still a help topic for filing form 1120-H for an HOA? Apparently there was as recently as April 2022, but the link is broken. Thanks!

[Anonymous_]

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.

[DWHOATreasurer]

Thanks. I hope there won't be an issue with this 1120-H because my HOA's situation is so simple. The only income other than proper exempt function income is a little bit of interest earned on CDs. We have no 3rd party income from renting out amenities because we have zero amenities. We have not spent money on anything other than maintenance and insurance - no parties, charities, etc. Fingers crossed, but this seems really cut and dried.

Thanks again for your help!