Form Ia 1120 PDF Details

The IRS Form 1120 is the United States Corporation Income Tax Return. This form is used by corporations to report their income, gains, losses, deductions, and credits for a tax year. The form must be filed by the due date of the return, including extensions. There are a number of special rules and forms that may apply to certain types of corporations, so it is important to seek professional assistance when preparing this form. Many businesses in the United States are organized as corporations for tax purposes. The IRS Form 1120 is the document that must be filed each year in order to report corporate income and taxes owed. This form can be complex, so it is important to work with a professional if you need help completing it. There are a number of different rules and forms that may apply to your business, so make sure you understand what is required before filing your return. Failing to submit accurate information on this form can result in steep penalties from the IRS. So if you'

QuestionAnswer
Form NameForm Ia 1120
Form Length4 pages
Fillable?No
Fillable fields0
Avg. time to fill out1 min
Other namesC2, Preparer, 42-001c, iowa 1120

Form Preview Example

Iowa Department of Revenue

 

 

 

 

 

 

 

 

OFFICE USE ONLY

 

 

IA 1120 2008

 

 

 

 

 

 

 

 

 

 

www.state.ia.us/tax

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Iowa Corporation Income Tax Return - Long Form

 

 

 

 

 

 

 

 

 

 

STEP 1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

From____/____/____to____/____/____

 

Postmark

 

 

 

 

 

 

 

 

 

 

Check the box if this is

 

(1) Name/Address Change

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(2) A Short Period

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporation Name and Address

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Federal T.I.N.:

 

 

 

 

 

Business Code:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

County No.:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Is this a first or final return? If yes, check the appropriate box.

 

 

 

 

 

 

 

 

First Return

 

New Business

 

 

Successor

Entering Iowa

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Name of contact person: _____________________________

Final Return

 

Reorganized

 

 

 

Merged

Dissolved

 

Phone No.: (_____) _______ - ___________

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Withdrawn

 

 

 

Bankruptcy

Other__________

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

STEP 2 Filing Status

Filing Status:

 

1 Separate Iowa/Separate Federal

Type of Return:

 

1 Regular Corporation

 

Is this an inactive corporation? ................................................

Was federal income or tax changed for any prior period(s)? .

Do you have property in Iowa? ................................................

2 Separate Iowa/Consolidated Federal

3 Consolidated Iowa/Consolidated Federal

2 Cooperative

 

 

3 UBIT

Yes

No

 

 

Yes

No

Period(s)_____________________________

Yes

No

 

 

USE WHOLE DOLLARS

 

STEP 3

1.

Net Income From Federal Return (before Federal Net Operating Loss)

1 ___________________

 

ERE

Net Income

2.

50% of Federal Tax Refund

Accrual

Cash

2 ___________________

 

& Additions

3.

Other Additions (Schedule A)

3 ___________________

 

to Income

 

 

 

 

 

 

 

 

 

 

H

4.

Net Income After Additions (add lines 1 through 3)

4 ___________________

 

 

 

 

 

 

 

 

 

 

 

 

 

CHECK

STEP 4

5.

50% of Federal Tax Paid or Accrued ...

Accrual

Cash

5 ___________________

 

 

 

Reductions

6.

Other Reductions (Schedule A)

6 ___________________

 

 

 

to Income

7.

Total Reductions (add lines 5 and 6)

7 ___________________

 

TAPLE

 

8.

Net Income After Reductions (s u bt r a c t line 7 from line 4)

8 ___________________

 

STEP 5

9.

Nonbusiness Income (Schedule D, line 17)

9 ___________________

 

Taxable

10.

Income Subject To Apportionment (subtract line 9 from line 8) ...................................................................................... 10

__________________

 

S

 

 

 

 

 

 

 

 

 

 

 

 

Income

11.

Iowa Percentage (Schedule E) (See instructions) ........................................................................................................... 11

________________

%

 

 

 

 

12.

Income Apportioned to Iowa (multiply line 10 by line 11) ................................................................................................ 12

__________________

 

 

 

13.

Iowa Nonbusiness Income (Schedule D, line 8) ............................................................................................................... 13

__________________

 

 

 

14.

Income Before Net Operating Loss (add lines 12 and 13) .............................................................................................. 14

__________________

 

 

 

15.

Net Operating Loss Carryforward (Schedule F) ............................................................................................................... 15

__________________

 

 

 

16.

Income Subject to Tax (subtract line 15 from line 14. Do NOT enter an amount below $0) ......................................... 16

__________________

 

 

STEP 6

17.

Computed Tax (for tax rates, see bottom of page 3) Check box if tax is annualized.

 

............................................. 17

__________________

 

 

Tax,

18.

Minimum Tax (from page 4, Schedule IA 4626) ............................................................................................................... 18

__________________

 

 

Credits,

19.

Total Tax (add lines 17 and 18) ......................................................................................................................................... 19

__________________

 

 

and

 

 

20.

Credits (Schedule C1, line 4. Do not include estimated tax credit) ............................ 20

__________________

 

 

 

 

Payments

 

 

 

 

21.

Payments (Schedule C2, line 4.) ................................................................................... 21

__________________

 

 

 

 

 

 

 

 

 

 

22.

Total Credits and Payments (add lines 20 and 21) .......................................................................................................... 22

__________________

 

 

 

23.

Net Amount (subtract line 22 from line 19) ....................................................................................................................... 23

__________________

 

 

STEP 7

24.

Tax Due if line 23 is greater than $0 ................................................................................................................................. 24

__________________

 

 

Balance

25.

Penalty (Underpayment of Estimated Tax; attach IA 2220) ............................................................................................ 25

__________________

 

 

Due

26.

Penalty (Failure to Pay or Failure to File) ......................................................................................................................... 26

__________________

 

 

 

27.

Interest ................................................................................................................................................................................ 27

__________________

 

 

 

28. Total Amount Due (add lines 24 through 27) Make check payable to “Treasurer, State of Iowa” ...................... 28

__________________

 

 

STEP 8

29.

Overpayment if line 23 is less than $0 .............................................................................................................................. 29

__________________

 

 

Over-

30.

Credit to Next Period’s Estimated Tax .............................................................................................................................. 30

__________________

 

 

payment

31.

Refund Requested (subtract line 30 from line 29) ........................................................................................................... 31

__________________

 

STEP 9

DO NOT use this amount to increase your overpayment, line 29, or to reduce the amount you owe, line 28.

 

Cow-Calf Refund

(attach IA 132)

__________________

A complete copy of your federal return, as filed with the Internal Revenue Service, MUST be filed with this return.

 

For filing status 2 or 3, you must attach pages 1-4 of your consolidated federal return, consolidating income statements,

 

Iowa Schedule H and any other forms related to the Iowa return.

42-001a (10/02/08)

Schedule A - Other Additions and Reductions

 

 

Enter Whole Dollars

IA 1120 Page 2 2008

 

 

 

 

 

 

Type of Income

 

 

 

Other Additions

 

 

Other Reductions

1

Percentage Depletion

 

 

 

 

 

 

 

 

 

2

TIP Credit

 

 

 

 

 

 

 

 

 

 

3

Capital Loss Adjustments (for filing status 2 or 3 only)

 

 

 

 

 

 

 

 

4

Contribution Adjustments (for filing status 2 or 3 only)

 

 

 

 

 

 

 

 

5

Safe Harbor Lease — Rent

 

 

 

 

 

 

 

 

 

6

Safe Harbor Lease — Interest

 

 

 

 

 

 

 

 

 

7

Safe Harbor Lease — Depreciation

 

 

 

 

 

 

 

 

 

8

Depreciation Adjustment (IA 4562A)

 

 

 

 

 

 

 

 

 

9

Tax Exempt Interest and Dividends (see instructions)

 

 

 

 

 

 

 

 

10

Iowa Tax Expense/Refund

 

 

 

 

 

 

 

 

 

11

Work Opportunity Credit Wage Reduction

 

 

 

 

 

 

 

 

 

12

Alcohol Fuel Credit

 

 

 

 

 

 

 

 

 

13

Foreign Dividend Exclusion (from Schedule B)

 

 

 

 

 

 

 

 

14

Federal Securities Interest and Dividends (instructions)

 

 

 

 

 

 

 

 

15

Other (must attach schedule)

 

 

 

 

 

 

 

 

 

16

 

TOTALS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Enter total on line 3 of page 1)

 

 

(Enter total on line 6 of page 1)

Schedule B - Foreign Dividend Exclusion

 

 

Enter Whole Dollars

 

 

 

 

Type of Dividend Income

 

 

 

Total Dividend

 

 

Exclusion

1

Less than 20% Owned

 

 

 

 

x

70%

 

 

 

2

20% to 80% Owned

 

 

 

 

x

80%

 

 

 

3

More than 80% Owned

 

 

 

 

x 100%

 

 

 

4

Dividend Gross Up (federal section 78)

 

 

 

 

x 100%

 

 

 

5

TOTAL

(add lines 1 through 4)

Enter Total on line 13 of Schedule A

 

 

 

 

Schedule C1 - Credits

 

Whole Dollars

 

Schedule C2 - Payments

 

Whole Dollars

 

 

 

 

 

Description

 

 

Amount

 

Description

 

Amount

1

Motor Fuel Credit (attach IA 4136)

 

 

 

 

1 Estimated Tax Payments

 

 

2

Total Nonrefundable Credits (attach IA 148)

 

 

 

 

a Credit from prior period overpayment

 

3

Total Refundable Credits, excluding Motor Fuel

 

 

 

b First, Date Paid:

 

 

 

 

 

Credit (attach IA 148)

 

 

 

 

c Second, Date Paid:

 

 

4

Total Tax Credits (add lines 1-3)

 

 

 

 

d Third, Date Paid:

 

 

 

 

 

 

 

 

 

 

 

e Fourth, Date Paid:

 

 

 

 

 

 

 

 

 

f Other, Date Paid:

 

 

 

 

 

 

 

 

 

 

 

2 Voucher Payment

 

 

 

 

 

 

 

 

 

 

 

3 Other Payments

 

 

 

 

 

 

 

 

 

 

 

4 Total (add lines 1-3) Enter on page 1, line 21

 

 

 

 

 

 

 

 

 

 

 

Additional Information

 

 

 

 

 

 

 

 

 

1. Year business was started in Iowa: __________

2. Last period filed as S corporation (if any) ______________

3. Information from the prior period Iowa return:

 

 

 

 

 

 

 

 

Corporation Name: _______________________________________________________________________________________

 

Net Income/Loss: ___________________________

 

 

Federal T.I.N.: ____________________________________

4. If part of a federal consolidated group, please provide information about the corporate parent:

 

 

 

Corporation Name: ___________________________________

 

Federal T.I.N. _____________________________________

Under penalties of perjury, I declare that I have examined this return, any attached schedules/statements, and, to the best of my knowledge, believe it to be true, correct and complete. If prepared by a person other than the taxpayer, the declaration is based on all information of which there is any knowledge.

Officer’s Signature _______________________________ Title _____________________ Date _________________

Signature of Preparer Other than Taxpayer ______________________________________ Date ____________________

Name and Address of Preparer or Preparer’s Employer

______________________________________________ Preparer’s Telephone No.: ____________________________

______________________________________________ Preparer’s ID No.: __________________________________

______________________________________________

_________________________________________________________

42-001b (8/20/08)

IA 1120 Page 3 2008

Schedule D - Nonbusiness Income (see instructions)

 

 

Enter Whole Dollars

 

Please attach all documentation detailing why the income should be allocated as Nonbusiness Income.

 

 

Type of Income

 

(A) Gross Income

(B) Related Expenses

 

(C) Subtotal

(D) 50% of Applicable

(E) Net Income

 

 

 

 

 

 

 

 

Federal Income Tax

 

Allocated Within Iowa

 

 

 

 

 

 

 

 

1

Net Dividend

 

 

 

 

 

 

 

 

 

(see instructions)

 

 

 

 

 

 

 

 

2

Exempt Interest

 

 

 

 

 

 

 

 

 

and Dividends

 

 

 

 

 

 

 

 

3

Other Interest

 

 

 

 

 

 

 

 

4

Rent

 

 

 

 

 

 

 

 

5

Royalties

 

 

 

 

 

 

 

 

6

Capital Gain

 

 

 

 

 

 

 

 

7

Other

 

 

 

 

 

 

 

 

 

(must attach schedule)

 

 

 

 

 

 

 

 

8

SUB TOTAL

Column E (add lines 1 through 7) Enter Total on line 13 of page 1.

 

Allocated Without Iowa

 

 

 

 

 

 

 

 

9

Net Dividend

 

 

 

 

 

 

 

 

 

(see instructions)

 

 

 

 

 

 

 

 

10

Exempt Interest

 

 

 

 

 

 

 

 

 

and Dividends

 

 

 

 

 

 

 

 

11

Other Interest

 

 

 

 

 

 

 

 

12

Rent

 

 

 

 

 

 

 

 

13

Royalties

 

 

 

 

 

 

 

 

14

Capital Gain

 

 

 

 

 

 

 

 

15

Other

 

 

 

 

 

 

 

 

 

(must attach schedule)

 

 

 

 

 

 

 

 

16

SUB TOTAL

Column E (add lines 9 through 15)

 

 

 

17

TOTAL

Column E (add lines 8 and 16)

 

 

Enter Total on line 9 of page 1.

 

 

 

 

 

 

 

 

 

Schedule E - Business Activity Ratio (BAR)

(see instructions)

Enter Whole Dollars

 

 

Type of Income

 

Col. A

Iowa Receipts

Col. B Receipts Everywhere

1

Gross Receipts

 

 

 

 

 

 

1

2

Net Dividends (see i n s t r u c t i o n s)

 

 

 

 

 

2

3

Exempt Interest (line 9, Schedule A)

 

 

 

 

 

3

4

Accounts R e c e i va b l e Interest

 

 

 

 

 

 

4

5

Other Interest

 

 

 

 

 

 

5

6

Rent

 

 

 

 

 

 

6

7

Royalties

 

 

 

 

 

 

7

8

Capital Gains

 

 

 

 

 

 

8

9

Ordinary Gains

 

 

 

 

 

 

9

10

Partnership Gross Receipts (attach schedule)

 

 

 

 

 

10

11

Other (must attach schedule)

 

 

 

 

 

 

11

12

TOTALS

 

 

 

 

 

 

12

13

Percentage (Column A/Column B - to six decimal places) Enter % on line 11 of page 1.

 

 

% 13

TAX RATES:

If income shown on line 16 (of page 1) is:

Under $25,000

then multiply line 16 by 6%

$25,000 to $100,000

then multiply line 16 by 8% and

 

subtract $500

$100,000 to $250,000 ...

then multiply line 16 by 10% and

 

subtract $2,500

Over $250,000

then multiply line 16 by 12% and

 

subtract $7,500

If annualizing, attach a schedule showing computation.

To obtain schedules and forms:

Web site: www.state.ia.us/tax

Tax Fax: 1-800-572-3943

Order by Phone: 1-800-532-1531 (Iowa only) or 515/281-7239

Tax Research Library: http://itrl.state.ia.us/

To talk to a tax specialist:

1-800-367-3388 (Iowa, Omaha, Rock Island/Moline) 515/281-3114 (Des Moines, out-of-state)

E-mail: idr@iowa.gov

MAIL YOUR RETURN TO:

Corporation Tax Return Processing

Iowa Department of Revenue

PO Box 10468

Des Moines IA 50306-0468

Corporate Name: ________________________________________________ Federal T.I.N.: _________________________________

42-001c (8/11/08)

 

 

 

 

 

 

 

 

 

IA 1120 Page 4 2008

 

 

 

 

 

 

 

 

 

 

Schedule IA 4626 Computation of Minimum Tax

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Period Ended _____/_____/_____

 

 

 

 

 

 

 

All totals from federal form 4626 except as noted. Federal form 4626 must be attached.

 

 

Enter Whole Dollars

1

Income Subject To Apportionment (line 10, page 1)

...............................................................................................................

 

 

 

 

1

___________________________

2

Total Adjustments And Preferences

 

 

 

 

 

2

___________________________

3

Preferences Not A p p l i c a b l e For Iowa

 

 

 

 

 

 

 

 

a Depletion

 

 

a

_______________________________

 

 

 

 

b Tax Exempt Interest From Private Activity Bonds

 

b

_______________________________

 

 

 

4

Total Iowa Tax Preferences (subtract lines 3a and b from line 2)

 

 

 

 

4

___________________________

5

Enter Total Of Lines 1 and 4

 

 

 

 

 

5

___________________________

6

Adjusted Current E a r n i n g s Adjustment (see i n s t r u c t i o n s)

 

 

 

 

6

___________________________

7

Total Of Lines 5 And 6

 

 

 

 

 

7

___________________________

8

Iowa Percentage (from line 11, page 1)

 

 

 

 

 

8

___________________________

9

Income Apportioned To Iowa (multiply line 7 b y line 8)

 

 

 

 

9

___________________________

10

Iowa Nonbusiness Income (from line 13, page 1)

 

 

 

 

 

10

___________________________

11

Add Lines 9 And 10

 

 

 

 

 

11

___________________________

12

Iowa Alternative Net Operating Loss (limited to 90% of line 11) (Schedule G)

12

___________________________

13

Iowa Alternative Income (subtract line 12 fr o m line 11)

 

 

 

 

13

___________________________

14

Exemption (see instructions)

 

 

 

 

 

14

___________________________

15

Iowa Alternative Income Subject To Tax (subtract line 14 from line 13)

 

 

 

 

15

___________________________

16

Iowa Alternative Tax (multiply line 15 by 7.2%)

 

 

 

 

 

16

___________________________

17

Iowa Regular Tax (from line 17, page 1)

 

 

 

 

 

17

___________________________

18

IOWA MINIMUM TAX (subtract line 17 from line 16 but not b e l o w zero) (enter on line 18, page 1)

18

___________________________

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule IA8827 Computation of Minimum Tax Credit

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Period Ended ____ /

___ / ___

 

 

 

 

 

 

Enter Whole Dollars

1

Enter Credit Carryforward (see w o r k s h e et below)

 

 

 

 

 

1

___________________________

2

Enter Your Current Period Regular Tax Liability Minus Credits

 

 

 

 

2

___________________________

3

Enter Your Current Period Minimum Tax (from line 16 a b ov e)

 

 

 

 

3

___________________________

4

Subtract Line 3 From Line 2 But Not Below Zero

 

 

 

 

 

4

___________________________

5

Minimum Tax Credit (enter the smaller of line 1 or line 4)

 

 

 

 

 

 

 

(Enter on IA 148 Tax Credits Schedule)

 

 

 

 

 

5

___________________________

6

Balance To Carryforward To Next Tax Period (subtract line 5 from line 1)

6

___________________________

7

Iowa Minimum Tax from Line 18 above

 

 

 

 

 

7

___________________________

8

Total Minimum Tax Credit Carryforward To Next Tax Period (add line 6 and line 7)

8

___________________________

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Worksheet - Alternative Minimum Tax Credit Carryforward

 

 

 

 

 

 

 

 

 

 

 

Tax Period Ended

Iowa Minimum Tax Paid

Period Applied

Minimum Tax Credit Applied

 

Unused Minimum Tax Credit

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Name: __________________________________________ T.I.N. ______________________________________

42-001d (8/20/08)

How to Edit Form Ia 1120 Online for Free

4562A can be completed very easily. Simply try FormsPal PDF editing tool to get it done without delay. Our editor is constantly developing to grant the very best user experience attainable, and that's thanks to our commitment to continuous enhancement and listening closely to user comments. With just several basic steps, it is possible to start your PDF journey:

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This PDF form will require specific information; to ensure correctness, be sure to adhere to the following recommendations:

1. Start filling out your 4562A with a selection of essential blanks. Consider all of the required information and be sure not a single thing neglected!

How one can prepare Iowa portion 1

2. Soon after filling out the last step, head on to the subsequent stage and enter the necessary details in these fields - USE WHOLE DOLLARS, STEP Net Income Additions to, STEP Reductions to Income, STEP Taxable Income, E R E H K C E H C E L P A T S, STEP Tax Credits and Payments, STEP Balance Due, Net Income From Federal Return, of Federal Tax Refund, Accrual, Cash, cid, Other Additions Schedule A cid, Net Income After Additions add, and of Federal Tax Paid or Accrued.

Filling out segment 2 in Iowa

3. Your next step is generally straightforward - fill in all of the empty fields in STEP Balance Due, STEP Over payment, Tax Due if line is greater than, Penalty Underpayment of Estimated, Penalty Failure to Pay or Failure, Interest cid, Total Amount Due add lines, Overpayment if line is less than, Credit to Next Periods Estimated, Refund Requested subtract line, DO NOT use this amount to increase, STEP CowCalf Refund A complete, and attach IA cid to complete this process.

Iowa writing process outlined (part 3)

4. To go ahead, the following step requires typing in a few form blanks. These comprise of Schedule A Other Additions and, Enter Whole Dollars, Type of Income, Other Additions, Other Reductions, Percentage Depletion, TIP Credit, Capital Loss Adjustments for, Contribution Adjustments for, Safe Harbor Lease Rent, Safe Harbor Lease Interest, Safe Harbor Lease Depreciation, Depreciation Adjustment IA A, Tax Exempt Interest and Dividends, and Iowa Tax ExpenseRefund, which are fundamental to carrying on with this particular form.

Stage number 4 for filling in Iowa

5. This form should be wrapped up by filling out this part. Below you will notice an extensive set of form fields that require appropriate details to allow your form usage to be complete: Schedule C Credits, Description, Whole Dollars, Schedule C Payments, Amount, Description, Whole Dollars, Amount, Motor Fuel Credit attach IA, Total Nonrefundable Credits, Total Refundable Credits, Credit attach IA, Total Tax Credits add lines, cid, and cid.

Iowa conclusion process clarified (step 5)

It's very easy to make a mistake when completing the Credit attach IA, therefore you'll want to reread it prior to deciding to submit it.

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