Appendix Thirty

• Author: Brian C. Vertz and Mitchell E. Benson
• Pages: 601-607

A - 191 Appendices Appendix Thirty

APPENDIX THIRTY

ΙΡΣ ΦΟΡΜ 1120Σ (2015), ΙΝΧΟΜΕ ΤΑΞ ΡΕΤΥΡΝ

ΦΟΡ ΑΝ Σ ΧΟΡΠΟΡΑΤΙΟΝ, ΩΙΤΗ ΣΧΗΕ∆ΥΛΕ

Ι. ΙΡΣ ΦΟΡ Μ 1120Σ (2019)

Form 1120-S

2019

U.S. Income Tax Return for an S Corporation

Department of the Treasury

Internal Revenue Service

▶ Do not file this form unless the corporation has filed or

is attaching Form 2553 to elect to be an S corporation.

▶ Go to www.irs.gov/Form1120S for instructions and the latest information.

OMB No. 1545-0123

For calendar year 2019 or tax year beginning , 2019, ending , 20

TYPE

OR

PRINT

Name

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

City or town, state or province, country, and ZIP or foreign postal code

A S election effective date

B

Business activity code

number (see instructions)

C

Check if Sch. M-3 attached

D Employer identification number

E Date incorporated

F Total assets (see instructions)

$

G

Is the corporation electing to be an S corporation beginning with this tax year?

Yes No

If “Yes,” attach Form 2553 if not already filed

H

Check if:

(1)

Final return

(2) Name change (3) Address change (4) Amended return (5)

S election termination or revocation

I Enter the number of shareholders who were shareholders during any part of the tax year . . . . . . . . ▶

J

Check if corporation:

(1)

Aggregated activities for section 465 at-risk purposes

(2)

Grouped activities for section 469 passive activity purposes

Caution: Include only trade or business income and expenses on lines 1a through 21. See the instructions for more information.

Income

1a Gross receipts or sales . . . . . . . . . . . . . . . . 1a

b Returns and allowances . . . . . . . . . . . . . . . . 1b

c

Balance. Subtract line 1b from line 1a . . . . . . . . . . . . . . . . . . . . 1c

2 Cost of goods sold (attach Form 1125-A) . . . . . . . . . . . . . . . . . . . 2

3 Gross profit. Subtract line 2 from line 1c . . . . . . . . . . . . . . . . . . . 3

4 Net gain (loss) from Form 4797, line 17 (attach Form 4797) ............. 4

5 Other income (loss) (see instructions—attach statement) .............. 5

6 Total income (loss). Add lines 3 through 5 . . . . . . . . . . . . . . . . . ▶6

Deductions

(see instructions for limitations)

7 Compensation of officers (see instructions—attach Form 1125-E) . . . . . . . . . . . 7

8 Salaries and wages (less employment credits) . . . . . . . . . . . . . . . . . 8

9 Repairs and maintenance . . . . . . . . . . . . . . . . . . . . . . . . 9

10 Bad debts ............................ 10

11 Rents .............................. 11

12 Taxes and licenses . . . . . . . . . . . . . . . . . . . . . . . . . . 12

13 Interest (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . 13

14 Depreciation not claimed on Form 1125-A or elsewhere on return (attach Form 4562) . . . . . 14

15 Depletion (Do not deduct oil and gas depletion.) ................ 15

16 Advertising ............................ 16

17 Pension, profit-sharing, etc., plans . . . . . . . . . . . . . . . . . . . . . 17

18 Employee benefit programs . . . . . . . . . . . . . . . . . . . . . . . 18

19 Other deductions (attach statement) . . . . . . . . . . . . . . . . . . . . 19

20 Total deductions. Add lines 7 through 19 . . . . . . . . . . . . . . . . . ▶20

21 Ordinary business income (loss). Subtract line 20 from line 6 . . . . . . . . . . . . 21

Tax and Payments

22 a Excess net passive income or LIFO recapture tax (see instructions) . . . 22a

b Tax from Schedule D (Form 1120-S) . . . . . . . . . . . . 22b

c Add lines 22a and 22b (see instructions for additional taxes) . . . . . . . . . . . . . 22c

23a 2019 estimated tax payments and 2018 overpayment credited to 2019 . 23a

b Tax deposited with Form 7004 . . . . . . . . . . . . . . 23b

cCredit for federal tax paid on fuels (attach Form 4136) . . . . . . . 23c

dReserved for future use . . . . . . . . . . . . . . . . 23d

eAdd lines 23a through 23d . . . . . . . . . . . . . . . . . . . . . . . 23e

24 Estimated tax penalty (see instructions). Check if Form 2220 is attached . . . . . . . ▶24

25 Amount owed. If line 23e is smaller than the total of lines 22c and 24, enter amount owed . . . 25

26 Overpayment. If line 23e is larger than the total of lines 22c and 24, enter amount overpaid . . . 26

27 Enter amount from line 26: Credited to 2020 estimated tax ▶Refunded ▶27

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.

▲

Signature of officer Date

▲

Title

May the IRS discuss this return

with the preparer shown below?

See instructions. Yes No

Paid

Preparer

Use Only

Print/Type preparer’s name Preparer’s signature Date Check if

self-employed

PTIN

Firm’s name ▶

Firm’s address ▶

Firm’s EIN ▶

Phone no.

For Paperwork Reduction Act Notice, see separate instructions. Cat. No. 11510H Form 1120-S (2019)

APPENDIX THIRTY