- NY Credits : 8.0
- TX Credits : 8.0
- CTEC Credits : Federal Tax Law - 7.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 7.0
- IRS Non-Credentialed Return Preparer Credits : Federal Tax - 7.0
This interactive self-study course provides a discussion of two issues that affect homeowners’ associations and other common interest realty associations (CIRAs). Lesson 1 takes a look at financial statement presentation for these entities, and Lesson 2 follows that up with an examination of applicable income tax rules.
Course Expiration Date: September 30, 2019
Please note, the grading fee for answer sheets submitted by regular mail is $95.
Identify the general accounting considerations that apply to CIRAs.
Identify the principles of tax law that apply to all types of CIRAs.
Determine the rules that apply to CIRAs filing Form 1120-H and Form 1120.
Recognize appropriate methods for dealing with tax-exempt CIRAs, cooperative housing corporations, master associations, timeshare developments, commercial developments, and specialized tax situations that may occur with CIRAs.
Lesson 1—Financial Statement Presentation
Lesson 2—Income Taxes