26 CFR 1.528-5

§ 1.528-5 Source of income test.

United States · 26 CFR — Internal Revenue · Status: effective

Cite this

Citation: 26 CFR 1.528-5, § 1.528-5 Source of income test, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/110393
Permanent ID: ys:prov:110393@1
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Full text

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.

Legislative history

This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.