Category: HOA Taxes

hoa taxes

What Every Homeowner Should Know About HOA Taxes

The subject of HOA taxes can be a source of frustration for many homeowners associations. But, do HOAs have to pay federal and state income taxes at all?   HOA Taxes: Understanding Federal and State Requirements A majority of homeowners associations are incorporated as nonprofits in their state. But, just because an HOA is organized…

homeowner's association tax | form 1120-H for HOAs

What You Need to Know About Form 1120-H

Are HOAs required to file tax returns? Even though they are non-profit organizations, all HOAs must still file their income tax return each year. To better understand the requirement, here’s everything you need to know about the homeowners association tax form, also known as Form 1120-H for HOAs.   What Is Form 1120-H for HOAs?…

write off rental property expenses | are hoa fees tax deductible

Are HOA Fees Tax Deductible?

Tax season is always a stressful time of the year. One of the questions HOA residents commonly ask is, “Are HOA fees tax deductible?” The answer, though, is not as simple.   Are HOA Fees Tax Deductible? A homeowners association runs a community by imposing certain rules, preserving its aesthetics, and maintaining various aspects of…