Free 2008 Form 1120-H - Federal

Form

1120-H
Name

U.S. Income Tax Return for Homeowners Associations
See separate instructions. , 2008, and ending
Employer identification number

OMB No. 1545-0127

Department of the Treasury Internal Revenue Service

2008
, 20

For calendar year 2008 or tax year beginning
Use IRS label. Otherwise, print or type.

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

Date association formed

City or town, state, and ZIP code

Check if: (1) Final return (2) Name change (3) Condominium management association A Check type of homeowners association: B C D E 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23

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)
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 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 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22

Deductions (directly connected to the production of gross income, excluding exempt function income)

$100

00

Tax and Payments
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 2007 overpayment 23a credited to 2008 23c b 2008 estimated tax payments 23b c Total 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 paid on fuels (attach Form 4136) 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 2009 estimated tax

24 25 26

Refunded

23g 24 25 26
May the IRS discuss this return with the preparer shown below (see instructions)? Yes No

Sign Here

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.

Signature of officer

Date

Title Date Check if self-employed EIN Phone no. Cat. No. 11477H ( ) Form Preparer's SSN or PTIN

Paid Preparer's Use Only

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

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

1120-H

(2008)