1120 U. S. Corporation Income Tax Return

1120

U.S. Corporation Income Tax Return

Form
Department of the Treasury
Internal Revenue Service
A Check if:
1a Consolidated return
(attach Form 851)
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b Life/nonlife consolidated return .
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2 Personal holding co.
(attach Sch. PH) .
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3 Personal service corp.
(see instructions) .

For calendar year 2018 or tax year beginning
▶

TYPE
OR
PRINT

Income
Deductions (See instructions for limitations on deductions.)

2018

, 20

Name

B Employer identification number

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

C Date incorporated

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

D Total assets (see instructions)

$
E Check if: (1)

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2
3
4

Returns and allowances . . . . . . . . . .
Balance. Subtract line 1b from line 1a
. . . . .
Cost of goods sold (attach Form 1125-A) . . . . .
Gross profit. Subtract line 2 from line 1c . . . . .
Dividends and inclusions (Schedule C, line 23, column (a))

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1b
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1c
2
3
4

5
6
7

Interest
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Gross rents .
Gross royalties

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5
6
7

8
9
10

Capital gain net income (attach Schedule D (Form 1120)) . . . .
Net gain or (loss) from Form 4797, Part II, line 17 (attach Form 4797)
Other income (see instructions—attach statement) . . . . . .

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8
9
10

11
12
13

Total income. Add lines 3 through 10 . . . . . . . .
Compensation of officers (see instructions—attach Form 1125-E)

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14
15
16

Salaries and wages (less employment credits)
Repairs and maintenance . . . . . .
Bad debts . . . . . . . . . . .
Rents . . . . . . . . . . . .

11
12
13

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14
15
16

17
18
19

Taxes and licenses . .
Interest (see instructions)
Charitable contributions .

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17
18
19

20
21
22

Depreciation from Form 4562 not claimed on Form 1125-A or elsewhere on return (attach Form 4562) .
Depletion . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Advertising
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20
21
22

23
24
25

Pension, profit-sharing, etc., plans
Employee benefit programs
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Reserved for future use . . . .

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23
24
25

26

Other deductions (attach statement)

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26

27
28

Total deductions. Add lines 12 through 26 . . . . . . . . . . . . . . . . . . ▶
Taxable income before net operating loss deduction and special deductions. Subtract line 27 from line 11.

29a

Net operating loss deduction (see instructions) .

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Address change

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1a

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(4)

Name change

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(3)

Final return

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b
c

Gross receipts or sales .

(2)

Initial return

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b
c

Tax, Refundable Credits, and
Payments

, 2018, ending

Go to www.irs.gov/Form1120 for instructions and the latest information.

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4 Schedule M-3 attached

1a

OMB No. 1545-0123

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29a

Special deductions (Schedule C, line 24, column (c)) . . . .
Add lines 29a and 29b . . . . . . . . . . . . .
Taxable income. Subtract line 29c from line 28. See instructions

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29b
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▶
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27
28

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29c
30

31
32
33
34
35
36

Total tax (Schedule J, Part I, line 11) . . . . . . . . . . . . . . . . .
2018 net 965 tax liability paid (Schedule J, Part II, line 12) . . . . . . . . . . .
Total payments, credits, and section 965 net tax liability (Schedule J, Part III, line 23) . . .
Estimated tax penalty. See instructions. Check if Form 2220 is attached
. . . . . .
Amount owed. If line 33 is smaller than the total of lines 31, 32, and 34, enter amount owed

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31
32
33
34
35

Overpayment. If line 33 is larger than the total of lines 31, 32, and 34, enter amount overpaid .

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36

37

Enter amount from line 36 you want: Credited to 2019 estimated tax ▶

30

▶

Refunded ▶

37

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.

Date

Signature of officer

Paid
Preparer
Use Only

Print/Type preparer’s name

Preparer’s signature

▲

▲

Sign
Here

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.

May the IRS discuss this return
with the preparer shown below?
See instructions.
Yes
No

Title
Date

Check
if
self-employed

Firm’s name

▶

Firm’s EIN

Firm’s address

▶

Phone no.

For Paperwork Reduction Act Notice, see separate instructions.

Cat. No. 11450Q

PTIN

▶

Form 1120 (2018)

Page 2

Form 1120 (2018)

Schedule C

Dividends, Inclusions, and Special Deductions (see
instructions)

(a) Dividends and
inclusions

1

Dividends from less-than-20%-owned domestic corporations (other than debt-financed
stock) . . . . . . . . . . . . . . . . . . . . . . . .

2

Dividends from 20%-or-more-owned domestic corporations (other than debt-financed
stock) . . . . . . . . . . . . . . . . . . . . . . . .

3

Dividends on certain debt-financed stock of domestic and foreign corporations

4

Dividends on certain preferred stock of less-than-20%-owned public utilities

5

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Dividends on certain preferred stock of 20%-or-more-owned public utilities .

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6

Dividends from less-than-20%-owned foreign corporations and certain FSCs

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7

Dividends from 20%-or-more-owned foreign corporations and certain FSCs

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8

Dividends from wholly owned foreign subsidiaries

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9

Subtotal. Add lines 1 through 8. See instructions for limitations .

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10

Dividends from domestic corporations received by a small business investment
company operating under the Small Business Investment Act of 1958 . . . . .

11

Dividends from affiliated group members .

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12

Dividends from certain FSCs

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13

Foreign-source portion of dividends received from a specified 10%-owned foreign
corporation (excluding hybrid dividends) (see instructions) . . . . . . . . .

14

Dividends from foreign corporations not included on line 3, 6, 7, 8, 11, 12, or 13
(including any hybrid dividends) . . . . . . . . . . . . . . . . .

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15

Section 965(a) inclusion .

16a

Subpart F inclusions derived from the sale by a controlled foreign corporation (CFC) of
the stock of a lower-tier foreign corporation treated as a dividend (attach Form(s) 5471)
(see instructions) . . . . . . . . . . . . . . . . . . . . .

b

Subpart F inclusions derived from hybrid dividends of tiered corporations (attach Form(s)
5471) (see instructions) . . . . . . . . . . . . . . . . . . .

c

Other inclusions from CFCs under subpart F not included on line 15, 16a, 16b, or 17
(attach Form(s) 5471) (see instructions) . . . . . . . . . . . . . . .

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17

Global Intangible Low-Taxed Income (GILTI) (attach Form(s) 5471 and Form 8992) .

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18

Gross-up for foreign taxes deemed paid

19

IC-DISC and former DISC dividends not included on line 1, 2, or 3

20

Other dividends

21

Deduction for dividends paid on certain preferred stock of public utilities

22

Section 250 deduction (attach Form 8993)

23

Total dividends and inclusions. Add lines 9 through 20. Enter here and on page 1,
line 4
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Total special deductions. Add lines 9 through 22, column (c). Enter here and on page 1, line 29b .

24

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(b) %

(c) Special deductions
(a) × (b)

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Form 1120 (2018)

Page 3

Form 1120 (2018)

Schedule J

Tax Computation and Payment (see instructions)

Part I–Tax Computation
1
2

Check if the corporation is a member of a controlled group (attach Schedule O (Form 1120)). See instructions ▶
Income tax. See instructions . . . . . . . . . . . . . . . . . . . . . . . .

3
4
5a

Base erosion minimum tax (attach Form 8991)
Add lines 2 and 3 . . . . . . . . .
Foreign tax credit (attach Form 1118) . . .

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3
4

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6
7

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8

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10
11

2018 net 965 tax liability paid from Form 965-B, Part II, column (k), line 2. Enter here and on page 1, line 32

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b
c
d

Credit from Form 8834 (see instructions) . . . .
General business credit (attach Form 3800) . . .
Credit for prior year minimum tax (attach Form 8827)

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e
6
7

Bond credits from Form 8912 . . .
Total credits. Add lines 5a through 5e
Subtract line 6 from line 4 . . . .

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8
9a
b

Personal holding company tax (attach Schedule PH (Form 1120)) .
Recapture of investment credit (attach Form 4255) . . . . .
Recapture of low-income housing credit (attach Form 8611) . .

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c
d
e
f
10
11

2

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5a
5b
5c
5d

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5e
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9a
9b

Interest due under the look-back method—completed long-term contracts (attach
Form 8697) . . . . . . . . . . . . . . . . . . . . .

9c

Interest due under the look-back method—income forecast method (attach Form
8866) . . . . . . . . . . . . . . . . . . . . . .
Alternative tax on qualifying shipping activities (attach Form 8902)
. . . .
Other (see instructions—attach statement)
. . . . . . . . . . .

9d
9e
9f

Total. Add lines 9a through 9f . . . . . . . . . . . .
Total tax. Add lines 7, 8, and 10. Enter here and on page 1, line 31 .

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Part II–Section 965 Payments (see instructions)
12

Part III–Payments, Refundable Credits, and Section 965 Net Tax Liability
13

2017 overpayment credited to 2018

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13

14
15
16

2018 estimated tax payments . . .
2018 refund applied for on Form 4466 .
Combine lines 13, 14, and 15 . . .

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14
15 (
16

17
18
19

Tax deposited with Form 7004 . . . .
Withholding (see instructions) . . . .
Total payments. Add lines 16, 17, and 18

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17
18
19

20

Refundable credits from:
Form 2439 . . . . .
Form 4136 . . . . .

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20a
20b

21

Form 8827, line 8c
. . . . . . .
Other (attach statement—see instructions)
Total credits. Add lines 20a through 20d .

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20c
20d
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21

22

2018 net 965 tax liability from Form 965-B, Part I, column (d), line 2. See instructions .

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22

23

Total payments, credits, and section 965 net tax liability. Add lines 19, 21, and 22. Enter here and on page 1,
line 33 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

a
b
c
d

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23

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Form 1120 (2018)

Page 4

Form 1120 (2018)

Schedule K
1

Other Information (see instructions)

Check accounting method: a

2
a
b
c

Cash

b

Accrual

c

Yes

Other (specify) ▶

See the instructions and enter the:
Business activity code no. ▶
Business activity ▶
Product or service ▶

3

Is the corporation a subsidiary in an affiliated group or a parent-subsidiary controlled group?
If “Yes,” enter name and EIN of the parent corporation ▶

4

At the end of the tax year:

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a

Did any foreign or domestic corporation, partnership (including any entity treated as a partnership), trust, or tax-exempt
organization own directly 20% or more, or own, directly or indirectly, 50% or more of the total voting power of all classes of the
corporation’s stock entitled to vote? If “Yes,” complete Part I of Schedule G (Form 1120) (attach Schedule G) . . . . . .

b

Did any individual or estate own directly 20% or more, or own, directly or indirectly, 50% or more of the total voting power of all
classes of the corporation’s stock entitled to vote? If “Yes,” complete Part II of Schedule G (Form 1120) (attach Schedule G) .

5

No

At the end of the tax year, did the corporation:
a

Own directly 20% or more, or own, directly or indirectly, 50% or more of the total voting power of all classes of stock entitled to vote of
any foreign or domestic corporation not included on Form 851, Affiliations Schedule? For rules of constructive ownership, see instructions.
If “Yes,” complete (i) through (iv) below.
(i) Name of Corporation

(ii) Employer
Identification Number
(if any)

(iv) Percentage
Owned in Voting
Stock

(iii) Country of
Incorporation

b Own directly an interest of 20% or more, or own, directly or indirectly, an interest of 50% or more in any foreign or domestic partnership
(including an entity treated as a partnership) or in the beneficial interest of a trust? For rules of constructive ownership, see instructions.
If “Yes,” complete (i) through (iv) below.
(i) Name of Entity

6

(ii) Employer
Identification Number
(if any)

(iii) Country of
Organization

(iv) Maximum
Percentage Owned in
Profit, Loss, or Capital

During this tax year, did the corporation pay dividends (other than stock dividends and distributions in exchange for stock) in
excess of the corporation’s current and accumulated earnings and profits? See sections 301 and 316 . . . . . . . .
If “Yes,” file Form 5452, Corporate Report of Nondividend Distributions. See the instructions for Form 5452.
If this is a consolidated return, answer here for the parent corporation and on Form 851 for each subsidiary.

7

8
9
10
11

At any time during the tax year, did one foreign person own, directly or indirectly, at least 25% of the total voting power of all
classes of the corporation’s stock entitled to vote or at least 25% of the total value of all classes of the corporation’s stock? .
For rules of attribution, see section 318. If “Yes,” enter:
(a) Percentage owned ▶
and (b) Owner’s country ▶
(c) The corporation may have to file Form 5472, Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign
Corporation Engaged in a U.S. Trade or Business. Enter the number of Forms 5472 attached ▶
Check this box if the corporation issued publicly offered debt instruments with original issue discount . . . . . . ▶
If checked, the corporation may have to file Form 8281, Information Return for Publicly Offered Original Issue Discount Instruments.
Enter the amount of tax-exempt interest received or accrued during the tax year ▶ $
Enter the number of shareholders at the end of the tax year (if 100 or fewer) ▶
If the corporation has an NOL for the tax year and is electing to forego the carryback period, check here (see instructions)

▶

If the corporation is filing a consolidated return, the statement required by Regulations section 1.1502-21(b)(3) must be attached
or the election will not be valid.
12

Enter the available NOL carryover from prior tax years (do not reduce it by any deduction reported on
page 1, line 29a.) . . . . . . . . . . . . . . . . . . . . . . . . . ▶ $
Form

1120 (2018)

Page 5

Form 1120 (2018)

Schedule K
13

Other Information (continued from page 4)

Are the corporation’s total receipts (page 1, line 1a, plus lines 4 through 10) 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 Schedules L, M-1, and M-2. Instead, enter the total amount of cash
distributions and the book value of property distributions (other than cash) made during the tax year ▶ $
14

Is the corporation required to file Schedule UTP (Form 1120), Uncertain Tax Position Statement? See instructions

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15a
b

If “Yes,” complete and attach Schedule UTP.
Did the corporation make any payments in 2018 that would require it to file Form(s) 1099?
If “Yes,” did or will the corporation file required Forms 1099? . . . . . . . . .

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16

During this tax year, did the corporation have an 80% or more change in ownership, including a change due to redemption of its
own stock?
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

17

During or subsequent to this tax year, but before the filing of this return, did the corporation dispose of more than 65% (by value)
of its assets in a taxable, non-taxable, or tax deferred transaction? . . . . . . . . . . . . . . . . . .

18

Did the corporation receive assets in a section 351 transfer in which any of the transferred assets had a fair market basis or fair
market value of more than $1 million? . . . . . . . . . . . . . . . . . . . . . . . . . . .

19

During the corporation’s tax year, did the corporation make any payments that would require it to file Forms 1042 and 1042-S
under chapter 3 (sections 1441 through 1464) or chapter 4 (sections 1471 through 1474) of the Code? . . . . . . . .
Is the corporation operating on a cooperative basis?. . . . . . . . . . . . . . . . . . . . . . .

20
21

During the tax year, did the corporation pay or accrue any interest or royalty for which the deduction is not allowed under section
267A? See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
If “Yes,” enter the total amount of the disallowed deductions ▶ $

22

Does the corporation have gross receipts of at least $500 million in any of the 3 preceding tax years? (See sections 59A(e)(2)
and (3)) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
If “Yes,” complete and attach Form 8991.

23

Did the corporation have an election under section 163(j) for any real property trade or business or any farming business in effect
during the tax year? See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . .

24

Does the corporation satisfy one of the following conditions and the corporation does not own a pass-through entity with current
year, or prior year carryover, excess business interest expense? See instructions . . . . . . . . . . . . . .

25

a

The corporation’s aggregate average annual gross receipts (determined under section 448(c)) for the 3 tax years preceding the
current tax year do not exceed $25 million, and the corporation is not a tax shelter, or

b

The corporation only has business interest expense from (1) an electing real property trade or business, (2) an electing farming
business, or (3) certain utility businesses under section 163(j)(7).
If “No,” complete and attach Form 8990.
Is the corporation attaching Form 8996 to certify as a Qualified Opportunity Fund? . . . . . . . . . . . . . .
If “Yes,” enter amount from Form 8996, line 13 . . . . ▶ $
Form

1120 (2018)

Page 6

Form 1120 (2018)

Schedule L

Balance Sheets per Books

Beginning of tax year
(a)
(b)

Assets
1

Cash

.

.

.

.

.

.

.

.

.

.

.

.

2a
b
3
4
5
6
7
8
9
10a
b
11a
b
12
13a
b
14
15

Trade notes and accounts receivable .
Less allowance for bad debts . . .
Inventories . . . . . . . . .
U.S. government obligations
. . .
Tax-exempt securities (see instructions)
Other current assets (attach statement)
Loans to shareholders . . . . .
Mortgage and real estate loans . . .
Other investments (attach statement) .
Buildings and other depreciable assets
Less accumulated depreciation . . .
Depletable assets . . . . . . .
Less accumulated depletion . . . .
Land (net of any amortization) . . .
Intangible assets (amortizable only)
.
Less accumulated amortization . . .
Other assets (attach statement) . . .
Total assets
. . . . . . . .

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

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

16
17
18
19
20
21
22

Accounts payable . . . . . . . . .
Mortgages, notes, bonds payable in less than 1 year
Other current liabilities (attach statement) . .
Loans from shareholders . . . . . . .
Mortgages, notes, bonds payable in 1 year or more
Other liabilities (attach statement) . . . .
Capital stock: a Preferred stock . . . .
b Common stock . . . .
Additional paid-in capital . . . . . . .
Retained earnings—Appropriated (attach statement)
Retained earnings—Unappropriated . . .
Adjustments to shareholders’ equity (attach statement)
Less cost of treasury stock . . . . . .
Total liabilities and shareholders’ equity . .

End of tax year
(c)

(d)

(

)

(

)

(

)

(

)

(

)

(

)

(

)

(

)

Liabilities and Shareholders’ Equity

23
24
25
26
27
28

Schedule M-1

(

)

(

)

Reconciliation of Income (Loss) per Books With Income per Return
Note: The corporation may be required to file Schedule M-3. See instructions.

1

Net 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):
Depreciation . . . . $
Charitable contributions . $
Travel and entertainment . $

a
b
c
6

Add lines 1 through 5 .

Schedule M-2
1
2
3

4

.

.

.

.

.

7

Income recorded on books this year
not included on this return (itemize):
Tax-exempt interest $

8

Deductions on this return not charged
against book income this year (itemize):
a Depreciation . . $
b Charitable contributions $

9
10

Add lines 7 and 8 . . . . . .
Income (page 1, line 28)—line 6 less line 9

.

.

.

Analysis of Unappropriated Retained Earnings per Books (Line 25, Schedule L)

Balance at beginning of year
Net income (loss) per books .
Other increases (itemize):

Add lines 1, 2, and 3 .

.

.

.
.

.

.
.

.

.
.

.

.
.

.

.
.

.

5

6
7
8

Distributions: a Cash . .
b Stock
.
c Property .
Other decreases (itemize):

.
.
.

.
.
.

.
.
.

Add lines 5 and 6 . . . . . .
Balance at end of year (line 4 less line 7)
Form 1120 (2018)