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Title 26 Part 1 → §1.528-5

Title 26 → Chapter I → Subchapter A → Part 1 → §1.528-5

Electronic Code of Federal Regulations e-CFR

Title 26 Part 1 → §1.528-5

e-CFR data is current as of November 18, 2019

Title 26Chapter ISubchapter APart 1 → §1.528-5


Title 26: Internal Revenue
PART 1—INCOME TAXES (CONTINUED)


§1.528-5   Source of income test.

An organization cannot qualify as a homeowners association under section 528 for a taxable year unless 60 percent or more of its gross income for such taxable year is exempt function income as defined in §1.528-9. The determiniation of whether an organization meets the provisions of this section shall be made after the close of the organization's taxable year.

[T.D. 7692, 45 FR 26322, Apr. 18, 1980]


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