Can TurboTax do Homeowner Association returns (Form 1120-H)?
TurboTax Business can handle Form 1120-H, but it needs to be filled out in Forms mode.
- Open TurboTax Business, start a new return, and proceed to the What type of return do you need to prepare? screen.
- Select Business return and then select C Corporation (Form 1120). Click Continue.
- In the upper right corner, click the Forms icon. This will take you out of the interview into Forms mode.
- On the Corporation Information Worksheet, scroll down to Part II – Type of Return and check the Prepare Form 1120-H checkbox.
- In Part III – Tax Year and Filing Information, enter the date your association formed in MM/DD/YYYY format.
- Now scroll all the way to the bottom of the worksheet and click the last Quickzoom button for 1120-H. This will open the 1120-H.
- Fill out the form manually until you no longer see (Not Done) next to 1120-H in the left pane.
- Tip: Click the errors "exclamation mark" icon to see what missing fields still need to be filled out.
- When finished, click Print at the bottom of your screen, as 1120-H cannot be e-filed at this time. (For the filing instructions, which you can also print out, click Filing Instr in the left pane.)