1120A Form PDF Details

The Form 1120-A, known as the U.S. Corporation Short-Form Income Tax Return, serves as a concise method for corporations to file their income taxes with the Internal Revenue Service (IRS). Crafted by the Department of the Treasury for the tax year 2006, its purpose extends to corporations seeking a truncated filing process, assuming they meet certain qualifications. A calendar year or a specifically defined tax year beginning in 2006 outlines the period of financial activity it covers. Critical to note is the form’s emphasis on eligibility, detailed through its accompanying instructions that highlight the criteria for filing, ensuring only qualified corporations proceed. Sections within the form guide corporations through the reporting of gross receipts, sales, deductions, incomes, and the calculation of taxable income after accounting for net operating losses and special deductions. Various checkboxes indicate changes in corporate information, including address or name changes, and the selection of accounting methods, while parts of the form detail tax computations, information on business activities, and balance sheets per the corporation’s books. The comprehensive nature of Form 1120-A, along with its specific instructions and requirements, underscores the necessity for careful consideration by corporations to determine their eligibility and ensure accurate reporting of their tax obligations for the year 2006.

QuestionAnswer
Form Name1120A Form
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other namesirs form 1120a, 1120 a, 1120 a form, 1120 c corp

Form Preview Example

Form1120-A

 

U.S. Corporation Short-Form Income Tax Return

OMB No. 1545-0890

 

 

 

 

2006

 

 

 

Department of the Treasury

For calendar year 2006 or tax year beginning

 

, 2006, ending

, 20

See separate instructions to make sure the corporation qualifies to file Form 1120-A.

Internal Revenue Service

 

 

 

 

 

Name

 

 

 

 

 

 

B Employer identification number

A Check this box if the

Use IRS

 

 

 

 

 

 

 

 

 

 

 

label.

 

 

 

 

 

 

 

 

 

 

 

corporation is a

 

 

Number, street, and room or suite no. If a P.O. box, see instructions.

C Date incorporated

 

Otherwise,

personal service

 

 

 

 

 

 

 

 

 

 

 

 

print or

 

 

 

 

 

 

 

 

 

 

 

corporation (see

 

 

 

 

 

 

 

 

 

 

 

 

instructions)

 

type.

 

City or town, state, and ZIP code

 

 

 

D Total assets (see instructions)

 

 

 

 

 

 

 

 

 

 

 

 

 

E Check if:

(1)

Initial return

(2)

Final return

(3)

Name change

(4)

Address change

$

 

 

 

 

F Check accounting method:

(1)

Cash

(2)

Accrual

(3)

Other (specify)

 

 

 

 

Income

(See instructions for Deductions limitations on deductions.)

Tax and Payments

1a

Gross receipts or sales

 

 

 

 

b Less returns and allowances

 

 

 

 

 

 

 

 

c Balance

1c

 

 

2

Cost of goods sold (see instructions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2

 

 

3

Gross profit. Subtract line 2 from line 1c

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3

 

 

4

Domestic corporation dividends subject to the 70% deduction

 

 

 

 

 

 

 

 

 

4

 

 

5

Interest

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5

 

 

6

Gross rents

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

6

 

 

7

Gross royalties

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

7

 

 

8

Capital gain net income (attach Schedule D (Form 1120))

 

 

 

 

 

 

 

 

 

8

 

 

9

Net gain or (loss) from Form 4797, Part II, line 17 (attach Form 4797)

 

 

 

 

 

 

 

 

 

9

 

 

10

Other income (see instructions—attach schedule)

 

 

 

 

 

 

 

 

 

10

 

 

11

Total income. Add lines 3 through 10

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

11

 

 

12

Compensation of officers (see instructions)

 

 

 

 

 

 

 

 

 

12

 

 

13

Salaries and wages (less employment credits)

 

 

 

 

 

 

 

 

 

13

 

 

14

Repairs and maintenance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

14

 

 

15

Bad debts

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

15

 

 

16

Rents

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

16

 

 

17

Taxes and licenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

17

 

 

18

Interest

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

18

 

 

19

Charitable contributions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

19

 

 

20

Depreciation from Form 4562 not claimed elsewhere on return (attach Form 4562)

20

 

 

21

Domestic production activities deduction (attach Form 8903)

 

 

 

 

 

 

 

 

 

21

 

 

22

Other deductions (attach schedule)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

22

 

 

23

Total deductions. Add lines 12 through 22

 

 

 

 

 

 

 

 

23

 

 

24

Taxable income before net operating loss deduction and special deductions. Subtract line 23 from line 11

24

 

 

25

Less:

a Net operating loss deduction (see instructions)

 

 

 

25a

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

b Special deductions (see instructions)

 

 

 

25b

 

 

 

25c

 

 

26

Taxable income. Subtract line 25c from line 24

 

 

 

 

 

 

 

 

 

26

 

 

27

Total tax (page 2, Part I, line 5)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

27

 

 

28 a

2005 overpayment credited to 2006

 

28a

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

b

2006 estimated tax payments

 

28b

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

c

2006 refund applied for on Form 4466

 

28c

(

 

 

 

 

)

Bal

28d

 

 

 

 

 

 

e

Tax deposited with Form 7004

 

 

 

 

 

 

 

 

 

 

28e

 

 

 

 

 

 

f

Credits:

(1) Form 2439

 

 

 

(2) Form 4136

 

 

 

 

 

28f

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

g

Credit for federal telephone excise tax (attach Form 8913)

 

 

 

 

 

 

 

 

 

28g

 

 

h

Total payments. Add lines 28d through 28g

 

 

 

 

 

 

 

 

 

28h

 

 

29

Estimated tax penalty (see instructions). Check if Form 2220 is attached

 

 

 

 

 

 

 

29

 

 

30

Amount owed. If line 28h is smaller than the total of lines 27 and 29, enter amount owed

30

 

 

31

Overpayment. If line 28h is larger than the total of lines 27 and 29, enter amount overpaid

31

 

 

32

Enter amount from line 31 you want: Credited to 2007 estimated tax

 

 

 

 

 

 

Refunded

32

 

 

 

 

 

 

 

 

 

 

Sign Here

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.

 

 

 

 

 

May the IRS discuss this return

 

 

 

 

 

with the preparer shown below

 

 

 

 

 

(see instructions)?

Yes

No

Signature of officer

 

 

Date

Title

 

 

Paid

Preparer’s

 

 

Date

 

Check if

Preparer’s SSN or PTIN

 

 

 

 

 

signature

 

 

 

 

 

Preparer’s

 

 

 

 

self-employed

 

Firm’s name (or

 

 

 

 

EIN

 

 

 

 

 

 

 

Use Only

 

 

 

 

 

 

address, and ZIP code

 

 

 

Phone no. (

)

 

yours if self-employed),

 

 

 

 

 

For Privacy Act and Paperwork Reduction Act Notice, see separate instructions.

Cat. No. 11456E

Form 1120-A (2006)

Form 1120-A (2006)

Page 2

 

 

 

Part I

Tax Computation (see instructions)

 

1

Income tax. If the corporation is a qualified personal service corporation (see instructions), check here

2

General business credit. Check box(es) and indicate which forms are attached:

 

 

Form 3800

Form(s) (specify)

 

3

Subtract line 2 from line 1

 

 

 

 

 

4

Other taxes. Check if from:

Form 4255

Form 8611

Form 8697

Form 8866

Form 8902

 

Other (attach schedule)

 

 

 

 

 

5Total tax. Add lines 3 and 4. Enter here and on page 1, line 27

1

2

3

4

5

Part II Other Information (see instructions)

1See instructions and enter the: a Business activity code no. b Business activity

c Product or service

2At the end of the tax year, did any individual, partnership, estate, or trust own, directly or indirectly, 50% or more of the corporation’s voting stock? (For rules of attribution, see section

267(c).)

Yes

No

If “Yes,” attach a schedule showing name and identifying number.

3Enter the amount of tax-exempt interest received or accrued

during the tax year

$

 

4Enter total amount of cash distributions and the book value of property distributions (other than cash) made during the tax

year

$

Part III Balance Sheets per Books

 

 

1

Cash

 

 

2a

Trade notes and accounts receivable

 

 

b

Less allowance for bad debts

 

 

3

Inventories

 

 

4

U.S. government obligations

 

Assets

5

Tax-exempt securities (see instructions)

 

6

Other current assets (attach schedule)

 

 

 

 

7

Loans to shareholders

 

 

8

Mortgage and real estate loans

 

 

9a

Depreciable, depletable, and intangible assets

 

 

b

Less accumulated depreciation, depletion, and amortization

 

 

10

Land (net of any amortization)

 

 

11

Other assets (attach schedule)

 

 

12

Total assets

 

 

13

Accounts payable

 

Shareholders’Equity

14

Other current liabilities (attach schedule)

Liabilitiesand

15

Loans from shareholders

16

Mortgages, notes, bonds payable

17

Other liabilities (attach schedule)

 

 

 

 

18

Capital stock (preferred and common stock)

 

 

19

Additional paid-in capital

 

 

20

Retained earnings

 

 

21

Adjustments to shareholders’ equity (attach schedule)

 

 

22

Less cost of treasury stock

 

 

23

Total liabilities and shareholders’ equity

 

 

 

 

5a If an amount is entered on page 1, line 2, enter from worksheet in instructions:

(1)Purchases

(2)Additional 263A costs (attach schedule)

(3)Other costs (attach schedule)

bIf property is produced or acquired for resale, do the rules of section

263A apply to the corporation?

Yes

No

6At any time during the calendar year, did the corporation have an interest in or a signature or other authority over a financial account (such as a bank account, securities

account, or other financial account) in a foreign country?

Yes

No

If “Yes,” the corporation may have to file Form TD F 90-22.1. If “Yes,” enter the name of the foreign country

7Are the corporation’s total receipts (line 1a plus lines 4 through 10 on page 1) for the tax year and its total assets at the end of the tax

year less than $250,000?

Yes

No

If “Yes,” the corporation is not required to complete Parts III and IV below.

(a) Beginning of tax year

(b) End of tax year

(

)

(

)

(

)

(

)

(

)

(

)

Part IV Reconciliation of Income (Loss) per Books With Income per Return

1Net income (loss) per books

2 Federal income tax per books

3 Excess of capital losses over capital gains

4 Income subject to tax not recorded on books this year (itemize):

5 Expenses recorded on books this year not deducted on this return (itemize):

6 Income recorded on books this year not included on this return (itemize):

7 Deductions on this return not charged against book income this year (itemize):

8 Income (page 1, line 24). Enter the sum of lines 1 through 5 less the sum of lines 6 and 7

Form 1120-A (2006)

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Completing part 1 in irs form 1120a

2. After completing this part, head on to the subsequent stage and enter all required details in all these blank fields - c , c , h , Taxes and licenses Interest, Domestic production activities, a b, a b, Net operating loss deduction see, overpayment credited to , Tax deposited with Form , Form , Credits Credit for federal, Form , Total payments Add lines d through, and Bal .

 Form ,  Bal , and Tax deposited with Form  of irs form 1120a

As for Form and Bal , be sure that you double-check them in this current part. Those two could be the most important ones in this file.

3. This next section is about Paid Preparers Use Only For, Preparers signature Firms name or, Check if selfemployed, EIN Phone no, Cat No E, and Form A - fill in all these fields.

Part # 3 for submitting irs form 1120a

4. To go forward, this fourth part will require typing in a handful of form blanks. These comprise of Part I, Tax Computation see instructions, Income tax If the corporation is a, Forms specify , Form , Form , Form , If an amount is entered on page , Purchases Additional A costs, Yes, If property is produced or, Yes, Yes, Beginning of tax year, and End of tax year, which you'll find key to moving forward with this PDF.

Part number 4 for completing irs form 1120a

5. The pdf should be wrapped up by dealing with this area. Here you'll see a full set of fields that must be completed with specific details for your document submission to be accomplished: Beginning of tax year, End of tax year, Cash Trade notes and accounts, b Less allowance for bad debts, Inventories US government, Accounts payable Other current, s t e s s A a b, d n a, s e i t i l i, b a L, y t i u q E, Part IV, s r e d o h e r a h S, Loans from shareholders Mortgages, and Reconciliation of Income Loss per.

Stage # 5 for filling in irs form 1120a

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