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

Form

1120-H

Department of the Treasury
Internal Revenue Service

U.S. Income Tax Return
for Homeowners Associations
▶

2016

Information about Form 1120-H and its separate instructions is at www.irs.gov/form1120h.

For calendar year 2016 or tax year beginning
TYPE
OR
PRINT

OMB No. 1545-0123

, 2016, and ending

, 20

Name

Employer identification number

Number, street, and room or suite no. If a P.O. box, see instructions.

Date association formed

City or town, state or province, country, and ZIP or foreign postal code

(1)
(2)
(3)
(4)
Check if:
Final return
Name change
Address change
Amended return
Check type of homeowners association:
Condominium management association
Residential real estate association
Timeshare association
A
B
Total exempt function income. Must meet 60% gross income test. See instructions . . . . .
B
C
Total expenditures made for purposes described in 90% expenditure test. See instructions . . .
C
D
Association’s total expenditures for the tax year. See instructions . . . . . . . . . . .
D
Tax-exempt interest received or accrued during the tax year . . . . . . . . . . . . .
E
E

Gross Income (excluding exempt function income)

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 statement) . .
Gross income (excluding exempt function income). Add lines 1 through 7

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8

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Deductions (directly connected to the production of gross income, excluding exempt function income)
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 statement) . . . . . . . . . . . . . .
Total deductions. Add lines 9 through 15 . . . . . . . . . . . .
Taxable income before specific deduction of $100. Subtract line 16 from line 8
Specific deduction of $100 . . . . . . . . . . . . . . . . .

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18

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19
20
21
22

$100

00

Tax and Payments
19
20
21
22
23

24
25
26

. . . .
. . . .
. . . .
Refunded ▶

23g
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.

Date

Signature of officer

Paid
Preparer
Use Only

Print/Type preparer’s name

Firm’s name

Preparer’s signature

▲

▲

Sign
Here

Taxable income. Subtract line 18 from line 17 . . . . . . . . . . . . .
Enter 30% (0.30) of line 19. (Timeshare associations, enter 32% (0.32) of line 19.) . .
Tax credits (see instructions) . . . . . . . . . . . . . . . . . . .
Total tax. Subtract line 21 from line 20. See instructions for recapture of certain credits
a 2015 overpayment credited to 2016 23a
b 2016 estimated tax payments .
23b
c Total ▶ 23c
d Tax deposited with Form 7004
. . . . . . . . . . . . .
23d
e Credit for tax paid on undistributed capital gains (attach Form 2439) . . .
23e
f Credit for federal tax paid on fuels (attach Form 4136) . . . . . .
23f
g Add lines 23c through 23f . . . . . . . . . . . . . . . . . . .
Amount owed. Subtract line 23g from line 22. See instructions . . . . . . . .
Overpayment. Subtract line 22 from line 23g . . . . . . . . . . . . . .
Enter amount of line 25 you want: Credited to 2017 estimated tax ▶

May the IRS discuss this return
with the preparer shown below?
See instructions.
Yes No

Title
Date

PTIN

Firm’s EIN ▶

▶

Firm’s address ▶

For Paperwork Reduction Act Notice, see separate instructions.

Check
if
self-employed
Phone no.

Cat. No. 11477H

Form 1120-H (2016)