Irs Section 528

However because of questions and developments that have arisen since then this topic has been updated and included in the 1982 textbook.

Irs section 528. Certain homeowners associations on westlaw findlaw codes are provided courtesy of thomson reuters westlaw the industry leading online legal research system. This definition has five necessary tests. 501 c 7 and 528 1.

Generally homeowners associations are composed of homeowners in a. Introduction a discussion of the exemption of homeowners associations was included in the 1981 cpe textbook. Tax shall be computed by multiplying the homeowners association taxable income by the highest rate of tax specified in section 11 b for such tax shall consist of a normal tax and a surtax computed as provided in section 11 as though the homeowners association were a corporation and.

Section 528 defines what an hoa is for tax purposes and gives those meeting the definition the opportunity to file form 1120 h tax return for a homeowners association. Internal revenue code 528. Certain homeowners associations text contains those laws in effect on august 27 2020 from title 26 internal revenue code subtitle a income taxes chapter 1 normal taxes and surtaxes subchapter f exempt organizations part vii certain homeowners associations.