Drake Tax - Form 1120-H

Article #: 11648

Last Updated: February 25, 2025

 

Tags: Drake Tax1120H

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Form 1120-H, US Income Tax return for a Homeowners Association, is available for e-file starting with Drake Tax 2024.

To generate Form 1120-H, follow these steps: 

  1. Create a corporate 1120 return.

  2. Go to the first Other Forms tab.

  3. Select the H screen. Once the H screen has been completed, an 1120-H will be generated instead of an 1120 return.

  4. Screens 1, 2, INC, DED, D, 4562, and 4797 should also be completed, as needed, to carry information to the 1120-H return.

Note  Entries made on the C screen do not flow to the 1120-H return. Instead, Wks DRD is generated to show the amount of credit that could be used if they chose to file a regular 1120 instead of the 1120-H.

For more information, see FAQ O in an 1120 return.

The 1120-H, U.S. Income Tax return for a Homeowners Association, cannot be electronically filed.

To generate Form 1120-H for paper-filing, follow these steps: 

  1. Create a corporate 1120 return.

  2. Go to the first Other Forms tab.

  3. Select the H screen. Once the H screen has been completed, an 1120-H will be generated instead of an 1120 return.

  4. Screens 1, 2, INC, DED, D, 4562, and 4797 should also be completed, as needed, to carry information to the 1120-H return.

Note  Entries made on the C screen do not flow to the 1120-H return. Instead, Wks DRD is generated to show the amount of credit that could be used if they chose to file a regular 1120 instead of the 1120-H.

For more information, see FAQ O in an 1120 return.