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Form 1120 for Common Interest Realty Associations (CIRAs) is chosen when the association has significant non-member income or when filing under 1120 results in a lower tax liability. This corporate tax filing option that allows HOAs and COAs with to report income, deductions, and credits under standard corporate rules rather than the simplified 1120-H.
Form 1120 for Common Interest Realty Associations (CIRAs) is chosen when the association has significant non-member income or when filing under 1120 results in a lower tax liability. This corporate tax filing option that allows HOAs and COAs with to report income, deductions, and credits under standard corporate rules rather than the simplified 1120-H.