I am new on the 1120H form. If I understand correctly the federal and nys forms for the HOA can not be efiled and have to be mail ins.  

My main issue is over the past numerous years they've has losses.  But in the year I am doing there is a small gain.  ( They collected a little more money than what some repairs were to cost)   Can the loss from 2020 be carried over into 2021 to wipe that gain out?  And if so how?   The gain was around 2700 and it is showing a federal tax liability of around 800 and state around 200.   

I've been doing taxes for over 30 years but this is my first HOA  (1120H).

Thank you in advance for any and ALL help you can offer me.