# ASC 740-972-45: Income Taxes — Real Estate—Common Interest Realty Associations — 45 Other Presentation Matters

Source: FASB Accounting Standards Codification, Basic View

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## ASC 740-972-45: 45 Other Presentation Matters

[Read section](https://asc.understandingaccounting.org/asc/740/972/#45-other-presentation-matters)

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##### [740-972-45-1](https://asc.understandingaccounting.org/asc/740/972/#740-972-45-1)

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Because income taxes are generally not related to the excess of revenues over expenses as in commercial entities, they may be presented in the same manner as other operating expenses in the statement of revenue and expenses. [Common interest realty associations](https://asc.understandingaccounting.org/glossary/c/#common-interest-realty-association "An association, also known as a community association, responsible for the governance of the common interest community, for which it was established to serve. A common interest realty association is generally funded by its members via periodic assessments by the common interest realty association so that it can perform its duties, which include management services and maintenance, repair, and replacement of the common property, among other duties established in the governing documents and by state statute.") shall follow the guidance in Topic 740.