Instructions For Form 1120-H - U.s. Income Tax Return For Homeowners Associations - 2010 Page 5
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5credit, qualified electric vehicle credit, or
example, it failed to give the payer its
The time needed to complete and file
new markets credit, include the amount of
correct EIN, include the amount withheld
this form will vary depending on individual
the recapture in the total for line 22. To
in the total for line 23g. This type of
circumstances. The estimated average
the right of the entry space, write “LIHTC,”
withholding is called backup withholding.
time is:
“QEV,” or “NMTC,” “recapture,” and the
Show the amount withheld in the blank
Recordkeeping . . . . . . . . .
amount. For details, see Form 8611,
space in the right-hand column between
11 hr., 57 min.
Learning about the law or
Recapture of Low-Income Housing Credit;
lines 22 and 23g, and write “Backup
the form . . . . . . . . . . . . . .
5 hr., 19 min.
Regulations section 1.30-1 (regarding the
Withholding.”
Preparing the form . . . . . . .
13 hr., 12 min.
qualified electric vehicle credit); or Form
Paperwork Reduction Act Notice. We
Copying, assembling, and
8874, New Markets Credit.
ask for the information on this form to
sending the form to
Line 23g. Total payments. Add the
carry out the Internal Revenue laws of the
the IRS . . . . . . . . . . . . . . .
2 hr., 9 min.
amounts on lines 23c through 23f and
United States. You are required to give us
enter the total on line 23g.
If you have comments concerning the
the information. We need it to ensure that
Refundable credit from Form 3800. A
accuracy of these time estimates or
you are complying with these laws and to
homeowners association can elect to
suggestions for making this form simpler,
allow us to figure and collect the right
claim an additional research tax credit
we would be happy to hear from you. You
amount of tax.
instead of claiming any additional
can write to the Internal Revenue Service,
You are not required to provide the
Tax Products Coordinating Committee,
first-year special depreciation allowance
information requested on a form that is
SE:W:CAR:MP:T:T:SP, 1111 Constitution
for eligible qualified property or eligible
subject to the Paperwork Reduction Act
Ave. NW, IR-6526, Washington, DC
extension property. If the association
unless the form displays a valid OMB
20224. Do not send the tax form to this
makes the election, include the amount
control number. Books or records relating
office. Instead, see Where To File on
from line 19c of Form 3800 in the total for
to a form or its instructions must be
page 3.
line 23g. Enter “Refundable credit from
retained as long as their contents may
Form 3800”next to the entry space for line
become material in the administration of
23g.
any Internal Revenue law. Generally, tax
Backup withholding. If the association
returns and return information are
had income tax withheld from any
confidential, as required by section 6103.
payments it received because, for
-5-
Instructions for Form 1120-H
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