Corporate Tax Return Problem 2
Question # 00057845
Posted By:
Updated on: 03/28/2015 11:47 AM Due on: 04/12/2015
Corporate Tax Return Problem 2 (page C-3 through C-5) (Form 1120)
You are required to complete the 2013 Form 1120, Schedule D and Schedule G (if applicable).
You will need to obtain copies of the tax forms for filing a 2013 return. The necessary forms can be found on the IRS website. Please note that you are provided 2013 financial information, so you should use the appropriate returns and schedules to file a return for the 2013 tax year.
Instructions
Go to the IRS website: www.irs.gov
In the search box at the top of the screen type the form you are looking for, i.e., "1120"
From the list of search results select the form and save to your computer.
Once the form is saved, you will be able to complete the form by typing in the form.
As you will notice when you are searching and obtaining your forms, there are corresponding instructions for each form. You are encouraged to save or print a copy of the instructions. This will be a great guide and resource as you complete your tax return.
To assist you in the tax return preparation, here are some check figures for the return:
158,000, Taxable income, Form 1120 page 1, Line 30
350,000, Cost of Goods Sold, Form 1120, Line 2
1,506,000, Total Asset (end of year), Form 1120 Schedule L, Line 15
Finally, please make sure you save your tax return as a PDF file and submit.
You are required to complete the 2013 Form 1120, Schedule D and Schedule G (if applicable).
You will need to obtain copies of the tax forms for filing a 2013 return. The necessary forms can be found on the IRS website. Please note that you are provided 2013 financial information, so you should use the appropriate returns and schedules to file a return for the 2013 tax year.
Instructions
Go to the IRS website: www.irs.gov
In the search box at the top of the screen type the form you are looking for, i.e., "1120"
From the list of search results select the form and save to your computer.
Once the form is saved, you will be able to complete the form by typing in the form.
As you will notice when you are searching and obtaining your forms, there are corresponding instructions for each form. You are encouraged to save or print a copy of the instructions. This will be a great guide and resource as you complete your tax return.
To assist you in the tax return preparation, here are some check figures for the return:
158,000, Taxable income, Form 1120 page 1, Line 30
350,000, Cost of Goods Sold, Form 1120, Line 2
1,506,000, Total Asset (end of year), Form 1120 Schedule L, Line 15
Finally, please make sure you save your tax return as a PDF file and submit.
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Solution: Corporate Tax Return Problem 2