Form 1120-H U.S. Income Tax Return for Homeowners Associations

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I.R.S. SPECIFICATIONS

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INSTRUCTIONS TO PRINTERS
FORM 1120-H, PAGE 1 of 6
MARGINS: TOP 13 mm (1⁄ 2 "), CENTER SIDES.
PRINTS: HEAD TO HEAD
PAPER: WHITE WRITING, SUB. 20.
INK: BLACK
FLAT SIZE: 432 mm (17") x 279 mm (11"), FOLDS to 216 mm (81⁄ 2 ") x 279 mm (11")
PERFORATE: ON VERTICAL FOLD

1120-H

OMB No. 1545-0127

2006

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For calendar year 2006 or tax year beginning
Name

, 2006, and ending

, 20

Employer identification number (see page 5)

Number, street, and room or suite no. (If a P.O. box, see page 5.)

City or town, state, and ZIP code

Date association formed

Check if:
(1)
Final return
(2)
Name change
(3)
Condominium management association
A Check type of homeowners association:
B
C
D
E

Signature

Revised proofs
requested

U.S. Income Tax Return
for Homeowners Associations

Department of the Treasury
Internal Revenue Service

Use
IRS
label.
Otherwise,
print or
type.

Date

O.K. to print

DO NOT PRINT — DO NOT PRINT — DO NOT PRINT — DO NOT PRINT

Form

Action

Address change
(4)
Residential real estate association
B
Total exempt function income. Must meet 60% gross income test (see instructions)
C
Total expenditures made for purposes described in 90% expenditure test (see instructions)
D
Association’s total expenditures for the tax year (see instructions)
Tax-exempt interest received or accrued during the tax year
E

Amended return
Timeshare association

Gross Income (excluding exempt function income)
1
2
3
4
5
6
7
8

1
2
3
4
5
6
7
8

Dividends
Taxable interest
Gross rents
Gross royalties
Capital gain net income (attach Schedule D (Form 1120))
Net gain or (loss) from Form 4797, Part II, line 17 (attach Form 4797)
Other income (excluding exempt function income) (attach schedule)
Gross income (excluding exempt function income). Add lines 1 through 7

Deductions (directly connected to the production of gross income, excluding exempt function income)
9
10
11
12
13
14
15
16
17
18

9
10
11
12
13
14
15
16
17
18

Salaries and wages
Repairs and maintenance
Rents
Taxes and licenses
Interest
Depreciation (attach Form 4562)
Other deductions (attach schedule)
Total deductions. Add lines 9 through 15
Taxable income before specific deduction of $100. Subtract line 16 from line 8
Specific deduction of $100

$100

00

Tax and Payments
19
20
21
22
23

24
25
26

19
20
21
22

Taxable income. Subtract line 18 from line 17
Enter 30% of line 19. (Timeshare associations, enter 32% of line 19.)
Tax credits (see instructions)
Total tax. Subtract line 21 from line 20. See instructions for recapture of certain credits
Payments: a 2005 overpayment
23a
credited to 2006
b 2006 estimated tax payments 23b
c Total © 23c
23d
d Tax deposited with Form 7004
e Credit for tax paid on undistributed capital gains (attach Form 2439) 23e
23f
f Credit for federal tax on fuels (attach Form 4136)
g Credit for federal telephone excise tax paid (attach Form 8913) 23g
h Add lines 23c through 23g
Amount owed. Subtract line 23h from line 22. See instructions for depository method of tax payment
Overpayment. Subtract line 22 from line 23h
Enter amount of line 25 you want: Credited to 2007 estimated tax ©
Refunded

Sign
Here

©

23h
24
25
26

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true,
correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.

©

Paid
Preparer’s
Use Only

Signature of officer
Preparer’s
signature

©

Firm’s name (or
yours if self-employed),
address, and ZIP code

Date

©

May the IRS discuss this return
with the preparer shown below
(see instructions)?
Yes
No

Title
Date

©

For Privacy Act and Paperwork Reduction Act Notice, see instructions.

Preparer’s SSN or PTIN

Check if
self-employed
EIN
Phone no.
Cat. No. 11477H

(

)
Form

1120-H

(2006)