Quote Originally Posted by Duane Anderson View Post
Does a Home Owners Association which files an 1120H for fiscal year ending June 30, 2018 qualify for the income tax credit of up to $5,000 under IRS code section 44 and reported on tax form 8826. The HOA has gross receipts of less than $1 million and less than 30 employees. I have input some info into my tax software and cannot get it to calculate the credit (tax refund) of 50% of eligible purchases up to a $5,000 maximum tax credit. Thanks,,,Duane Anderson
If you have Form 8826 in the return, it should carry forward to Form 3800 (general business credit) and then to tax return. Maybe you have to pull up both forms for it to calculate.