---
title: Insurance proceeds exceed the cost of repairs by the association
description: The insurance proceeds collected by the condo association will exceed the cost of repairs by the association.
---

[Condo Q&A ](https://www.condoassociation.com/blog)

# [Insurance proceeds exceed the cost of repairs by the association](https://www.condoassociation.com/blog/insurance-proceeds-exceed-the-cost-of-repairs-by-the-association)

 Written by [CondoAssociation.com](https://www.condoassociation.com/blog/author/condoassociationcom) | Mon, Aug 7, 2023 @ 02:30 PM

This question is submitted by Brent C. out of Michigan

I'm a retired CPA and have a situation where the insurance proceeds collected by the condo association will exceed the cost of repairs by the association. The condo association files Form 1120-H.

 

Is the difference taxable to the association? Where do I get more information on this type of situation? Thanks in advance.

 

 

Thoughts?

<https://www.condoassociation.com/condo-loan-inquiry>

 

[View full post](https://www.condoassociation.com/blog/insurance-proceeds-exceed-the-cost-of-repairs-by-the-association)

```json
{
  "@context" : "http://schema.org",
  "@type" : "BlogPosting",
  "author" : {
    "@type" : "Person",
    "name" : "CondoAssociation.com"
  },
  "dateModified" : "2023-08-07T14:30:00.343Z",
  "datePublished" : "2023-08-07T14:30:00Z",
  "headline" : "Insurance proceeds exceed the cost of repairs by the association",
  "image" : {
    "@type" : "ImageObject",
    "height" : 1280,
    "url" : "https://www.condoassociation.com/hubfs/coins-948603_1920.jpg",
    "width" : 1920
  },
  "mainEntityOfPage" : "https://www.condoassociation.com/blog/insurance-proceeds-exceed-the-cost-of-repairs-by-the-association",
  "publisher" : {
    "@type" : "Organization",
    "logo" : {
      "@type" : "ImageObject",
      "height" : 60.0,
      "url" : "https://www.condoassociation.com/hubfs/Logos/CondoAsso-logo.png",
      "width" : 179.13875
    },
    "name" : "Condo Q&A"
  }
}
```