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1120 Tax form for corporations?
On the 1120 tax form for corporations, Should I include a refund I receive for state tax, and if so where?
Also, if I made a federal tax payment for a 2009 deficiency, should I record this on the 1120 as well?
Thanks for your help!
3 Answers
- ?Lv 49 years agoFavourite answer
You can report the refund in other income. The federal tax payment is not deductible.
- Anonymous4 years ago
Your dates on final 3 hundred and sixty 5 days's varieties are incorrect. you won't have the capacity to have Mar13 to Mar31 as that is extra effective than a 300 and sixty 5 days. a valid selection could be April 1st 2010 to March 31,2011, due date is June fifteenth, 2011.
- Anonymous9 years ago
Haven't you flunked that class yet? Your questions show zero initiative to actually read a single IRS publication.
In the highly unlikely event this is YOUR tax return, HIRE SOMEONE who knows how to do it. A screwed up tax return is almost as bad as no tax return at all.