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What Tax Filing Documents Do I Need to File Corporate Taxes on Form 1120?

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Question: What Tax Filing Documents Do I Need to File Corporate Taxes on Form 1120?
Small business owners who are filing business taxes as a corporation use Form 1120-U.S. Corporation Tax Return.
Answer:

Tax Filing Documents for Form 1120-U.S. Corporation Tax Return

Information on your business income and expenses
Give your CPA a P&L (profit and loss, or income) statement, showing your corporate income, with specific sources of revenue, and all deductible expenses of the corporation for the year.

If your corporation sells products, you must provide information to calculate cost of goods sold

Information on your business assets
You will need to provide information on your business asset records, including business vehicles, for depreciation purposes.

Corporate Balance Sheets
You must also provide balance sheets for the corporation, for the beginning of the year and end of the year. The beginning year balance sheet must match last year's end-of-year balance sheet.

Detail Sheets
You must also provide information for

  • Form 8903 - Domestic production activities
  • Schedule C - Dividends
  • And details on corporate officer compensation.

Take all of this information to your CPA, Enrolled Agent, or other tax preparer, or use business tax software to prepare your return.

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