{"data":{"id":"us/26-cfr-1.528-5","jurisdiction":"us","citation":"26 CFR 1.528-5","heading":"-5 Source of income test.","body":"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.","path":["Title 26—Internal Revenue","CHAPTER I—INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY","SUBCHAPTER A—INCOME TAX","PART 1—INCOME TAXES"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-26.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:25:11Z","sha256":"b68cedacafc56eafb21c3465dff6d6a35e8ee27730584e52ad1b0cd8c6842765","source_id":"us-cfr","stale":true,"prev":"us/26-cfr-1.528-4","next":"us/26-cfr-1.528-6"},"notice":"GroundRules: Original legal text. Not legal advice."}