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Common questions about corporate homeowner's associations

by Intuit Updated 1 year ago

Below, you'll find answers to frequently asked questions about homeowner's associations in Lacerte:

How do you generate Form 1120-H for a homeowner's association?

  1. Go to Screen 54, HOA (1120-H) / Cooperative (1120-C).
  2. Select the box labeled Homeowner's association (MANDATORY).
  3. In the Type of association field, select an option from the dropdown menu.
  4. Enter the Exempt Function Income.
  5. Scroll down to the Deductions section and fill it out.
    • You only need to enter gross income if it's different from the input in other screens.

When trying to e-file NY Form 1120-H return, you get a critical diagnostic saying you can't e-file the return, and the program automatically selects the federal e-file box on Screen 1, Client Information.

How to resolve this diagnostic: You can't e-file a federal Form 1120-H, and you can't e-file the NY forms separately due to state requirements stating you must send the federal return sent with the NY return.

Related topics:

Lacerte Tax

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