# ASC 740-972-50: Income Taxes — Real Estate—Common Interest Realty Associations — 50 Disclosure

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/740/972/#50-disclosure)

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## ASC 740-972-50: 50 Disclosure

[Read section](https://asc.understandingaccounting.org/asc/740/972/#50-disclosure)

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##### [740-972-50-1](https://asc.understandingaccounting.org/asc/740/972/#740-972-50-1)

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In addition to disclosures required by generally accepted accounting principles (GAAP) for other entities, the notes to a common interest realty association's financial statements shall include disclosures about both of the following:

1.  a
    
    The common interest realty association's income tax filing status and its liability for income taxes
    
2.  b
    
    Credits from taxing authorities that will be phased out in future reporting periods.