Re: Early Bank Account Types for Explorer Membership Dues and Professional Fees (Lyn Deardorff)
From: Gary Hellenga (gary.hellengagmail.com)
Date: Wed, 24 Feb 2021 18:07:06 -0800 (PST)
We originally described our co-housing creation organization as a
Homeowners Association, on our EIN application.  Our response letter from
the IRS said we had to file a Form 1120-H (tax return form), which is
specific for an HOA.  It turns out that's not appropriate for the
organization that is developing a co-housing project (but it WILL be the
right thing, when we form a new LLC to take over the community after our
homes are built and sold - that organization will be a true HOA).  We
should have specified that we were a real estate developer, or similar
category.  We are now in the process of requesting a change in our
organization type - which might or might not require us to get a new EIN.

Gary Hellenga
Bookkeeper, Bozeman Co-housing


>
> Message: 7
> Date: Thu, 25 Feb 2021 00:59:24 +0000
> From: Lyn Deardorff <lynpeachtree [at] outlook.com>
> To: "cohousing-l [at] cohousing.org" <cohousing-l [at] cohousing.org>
> Subject: Re: [C-L]_ Early Bank Account Types for Explorer Membership
>         Dues and Professional Fees
> Message-:
>         <
> BN6PR1801MB18587BF113A5C3831E8A59B4DE9E9 [at] 
> BN6PR1801MB1858.namprd18.prod.outlook.com
> >
>
> Content-Type: text/plain; charset="us-ascii"
>
> Can you clarify why not Homeowners Association?
>
> Thanks!
> Lyn Deardorff
> Sand River Co-Housing
> Santa Fe NM
>
> -----Original Message-----
> From: Cohousing-L <cohousing-l-bounces+lynpeachtree=
> hotmail.com [at] cohousing.org> On Behalf Of Diana Carroll
> Sent: Wednesday, February 24, 2021 5:57 PM
> To: Cohousing-L <cohousing-l [at] cohousing.org>
> Subject: Re: [C-L]_ Early Bank Account Types for Explorer Membership Dues
> and Professional Fees
>
> Whatever you do, don't choose homeowner's association!
>
> *
>

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