We are preparing multiple Form 1120 returns for commercial office associations. These are very similar to a homeowner's association.
The prior accountant had each office association pay corporate tax for 2017. After reviewing some information, it appears the office associations may qualify to use Rev. Rul. 70-604. This allows the excess dues to be applied to the next tax year and to be taken out of the succeeding year's membership dues.
Has anyone ever applied this Rev. Rul to commercial office space? The only article I can find is an RSM article with a link below:
https://rsmus.com/what-we-do/services/t ... tions.html