1120 H Tax Form - The image above is the top section of the form. These benefits, in effect, allow the association to exclude exempt function income (defined later) from its gross income. Tax liability & payment section: To benefit from specific tax advantages, a homeowners association files this form as its income tax return. It details some of the basic information of the homeowners association.
These benefits, in effect, allow the association to exclude exempt function income (defined later) from its gross income. The image above is the top section of the form. Tax liability & payment section: To benefit from specific tax advantages, a homeowners association files this form as its income tax return. It details some of the basic information of the homeowners association.