Question
How are capital expenditures & depreciation treated on 1120-H (HOA) tax returns?
How are capital expenditures handled on 1120-H tax returns? Are they expensed when paid, depreciated or another way? For example: A new roof for a condominium is all paid for during the year. How does that get accounted for on the 1120-H form? Would it be different if the roof was financed? Does it matter if reserve funds were used?
