Essay Grade

Form
1120-H
U.S. Income Tax Return
for Homeowners Associations
Department of the Treasury
Internal Revenue Service
▶
2017
Go to www.irs.gov/Form1120H for instructions and the latest information.
For calendar year 2017 or tax year beginning
TYPE
OR
PRINT
OMB No. 1545-0123
, 2017, and ending
, 20
Name
Employer identification number
Number, street, and room or suite no. If a P.O. box, see instructions.
Date association formed
City or town, state or province, country, and ZIP or foreign postal code
(1)
(2)
(3)
(4)
Check if:
Final return
Name change
Address change
Amended return
Check type of homeowners association: ✔ Condominium management association
Residential real estate association
Timeshare association
A
B
Total exempt function income. Must meet 60% gross income test. See instructions . . . . .
B
C
Total expenditures made for purposes described in 90% expenditure test. See instructions . . .
C
D
Association’s total expenditures for the tax year. See instructions . . . . . . . . . . .
D
Tax-exempt interest received or accrued during the tax year . . . . . . . . . . . . .
E
E
Gross Income (excluding exempt function income)
1
2
3
4
5
6
7
8
Dividends . . . . . . . . . . . . . . . . . . . . . .
Taxable interest . . . . . . . . . . . . . . . . . . . .
Gross rents . . . . . . . . . . . . . . . . . . . . .
Gross royalties . . . . . . . . . . . . . . . . . . . .
Capital gain net income (attach Schedule D (Form 1120)) . . . . . .
Net gain or (loss) from Form 4797, Part II, line 17 (attach Form 4797) . .
Other income (excluding exempt function income) (attach statement) . .
Gross income (excluding exempt function income). Add lines 1 through 7
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1
2
3
4
5
6
7
8
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Deductions (directly connected to the production of gross income, excluding exempt function income)
9
10
11
12
13
14
15
16
17
18
Salaries and wages . . . . . . . . . . . . . . . . . . .
Repairs and maintenance . . . . . . . . . . . . . . . . .
Rents . . . . . . . . . . . . . . . . . . . . . . . .
Taxes and licenses . . . . . . . . . . . . . . . . . . . .
Interest . . . . . . . . . . . . . . . . . . . . . . .
Depreciation (attach Form 4562) . . . . . . . . . . . . . . .
Other deductions (attach statement) . . . . . . . . . . . . . .
Total deductions. Add lines 9 through 15 . . . . . . . . . . . .
Taxable income before specific deduction of $100. Subtract line 16 from line 8
Specific deduction of $100 . . . . . . . . . . . . . . . . .
19
20
21
22
23
Taxable income. Subtract line 18 from line 17 . . . . . . . . . . . . .
Enter 30% (0.30) of line 19. (Timeshare associations, enter 32% (0.32) of line 19.) . .
Tax credits (see instructions) . . . . . . . . . . . . . . . . . . .
Total tax. Subtract line 21 from line 20. See instructions for recapture of certain credits
a 2016 overpayment credited to 2017 23a
b 2017 estimated tax payments .
23b
c Total ▶ 23c
d Tax deposited with Form 7004
. . . . . . . . . . . . .
23d
e Credit for tax paid on undistributed capital gains (attach Form 2439) . . .
23e
f Credit for federal tax paid on fuels (attach Form 4136) . . . . . .
23f
g Add lines 23c through 23f . . . . . . . . . . . . . . . . . . .
Amount owed. Subtract line 23g from line 22. See instructions . . . . . . . .
Overpayment. Subtract line 22 from line 23g . . . . . . . . . . . . . .
Enter amount of line 25 you want: Credited to 2018 estimated tax ▶
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9
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18
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19
20
21
22
Tax and Payments
24
25
26
23g
24
25
26
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true,
correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
Date
Signature of officer
Paid
Preparer
Use Only
Print/Type preparer’s name
Firm’s name
Preparer’s signature
▲
▲
Sign
Here
. . . .
. . . .
. . . .
Refunded ▶
May the IRS discuss this return
with the preparer shown below?
See instructions.
Yes No
Title
Date
PTIN
Firm’s EIN ▶
▶
Firm’s address ▶
For Paperwork Reduction Act Notice, see separate instructions.
Check
if
self-employed
Phone no.
Cat. No. 11477H
Form 1120-H (2017)
Executive Briefing Report (Create a Title Here)
Summary/Introduction
Clearly explain your analysis using understandable terms for your selected firm; focus on
strategic elements (capabilities) of the firm and on how the strategic elements fit into the
strategic position of the company.
Internal Strengths and Weaknesses Analysis
Present your analysis so that it effectively addresses the problem; Write clearly; you may use
graphics, bullets and headings to deliver the analysis in an organized easily read format; you
may have several sub-headings to address the assessment’s scoring criteria:
•
Evaluate how the selected firm leverages its resources and capabilities to execute the
business strategy.
•
Evaluate the effectiveness of the organizational structure and management system
design.
•
Explain possible ethical dilemmas and governance issues.
Provide supporting evidence
Use at least four current, scholarly, or professional resources to support your analysis.
Conclusion
Succinctly summarize the key findings of your internal analysis for your selected firm.
1

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