400% over reserved
In the above post, I forgot to mention that we file under 1120-H, and no inconme taxes have been paid.
Thank You,
DPK
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If you qualify to use that form than you are entitled to file under those provisions of the IRS code otherwise you must file form 1120. HOA’s are one of the few organizations that are allowed to file their taxes under two separate sections of the IRS code.
Dennis