[David Van Liere]

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Virtually all of our interest income comes from homeowner dues invested in savings and certificates of deposit. The earnings goes towards capital improvements on our common area building. Is this interest taxable?

[profdan_h]

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Hi David,

As far as I’m aware, interest income is taxable regardless of which form you use (Form 1120 or 1120-H). I’d check with your HOA accountant for clarification if I were you, though.

Hope this helps.

[Author]

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