1120-US: Generating Form 1120-H (FAQ)

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The IRS MeF system is now processing returns, and the filing deadline has been extended to 11:59 PM on Wednesday, April 18, 2018. For the latest details, see UltraTax CS alerts and notices.

Question

How do I generate Form 1120-H?

Answer

Form 1120-H for Homeowner's Associations is generated when you select Homeowner's Association as the entity type in the File > Client Properties dialog. If you enter information in Screen H in the Total exempt function income field or in the Total expenditures made for purposes described in 90% expenditure test field, UltraTax CS automatically compares the tax before credits on Form 1120 and Form 1120-H. UltraTax CS prints the form that calculates the lowest tax before credits. To force either form to print instead of accepting the calculated result, select an option from the Force to print Form 1120 or Form 1120-H drop-down list in Screen H, located in the 1120H folder.

Related topic: 1120-US: Form 1120-H - Homeowner's association FAQs

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