ACCT 424 Form 1120s - Form 1120S U.S Income Tax Return for...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
OMB No. 1545-0130 U.S. Income Tax Return for an S Corporation 1120S Form For calendar year 2008 or tax year beginning , 2008, ending , 20 Department of the Treasury Internal Revenue Service ' See separate instructions. S election effective date A Employer identification number D Name Use IRS label. Other- wise, print or type. Date incorporated E Number, street, and room or suite no. If a P.O. box, see instructions. Business activity code number (see instructions) B Total assets (see instructions) F City or town, state, and ZIP code $ If “Yes,” attach Form 2553 if not already filed Final return Is the corporation electing to be an S corporation beginning with this tax year? G H Check if: Caution. Include only trade or business income and expenses on lines 1a through 21. See the instructions for more information. 1c Gross receipts or sales 1a b Less returns and allowances 2 2 Cost of goods sold (Schedule A, line 8) 3 3 Gross profit. Subtract line 2 from line 1c 4 4 Net gain (loss) from Form 4797, Part II, line 17 (attach Form 4797) Income 5 5 Other income (loss) (see instructions—attach statement) Total income (loss). Add lines 3 through 5 ' 6 6 7 Compensation of officers 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 13 14 Depreciation not claimed on Schedule A or elsewhere on return (attach Form 4562) 14 15 15 Depletion (Do not deduct oil and gas depletion.) 16 Advertising 16 17 17 Pension, profit-sharing, etc., plans 18 Employee benefit programs 18 Deductions (see instructions for limitations) 19 19 Other deductions (attach statement) 20 20 Total deductions. Add lines 7 through 19 ' 21 Ordinary business income (loss). Subtract line 20 from line 6 21 Excess net passive income or LIFO recapture tax (see instructions) 22a 22a 22b Tax from Schedule D (Form 1120S) b 22c Add lines 22a and 22b (see instructions for additional taxes) c 23a 2008 estimated tax payments and 2007 overpayment credited to 2008 23a 23b b Tax deposited with Form 7004 c Credit for federal tax paid on fuels (attach Form 4136) d Add lines 23a through 23c 24 Estimated tax penalty (see instructions). Check if Form 2220 is attached ' 24 Tax and Payments 25 Amount owed. If line 23d is smaller than the total of lines 22c and 24, enter amount owed 25 26 26 Overpayment. If line 23d is larger than the total of lines 22c and 24, enter amount overpaid Refunded ' Enter amount from line 26 Credited to 2009 estimated tax ' 27 27 Paid Preparer’s Use Only Cat. No. 11510H For Privacy Act and Paperwork Reduction Act Notice, see separate instructions. Form 1120S (2008) Bal ' c 23c 23d Yes (1) Date Preparer’s SSN or PTIN Preparer’s signature Check if self-employed Firm’s name (or yours if self-employed), address, and ZIP code EIN Phone no. ( ) ' ' 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,
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 04/22/2010 for the course ACCT ACCT424 taught by Professor Tracie during the Spring '10 term at DeVry Chicago O'Hare.

Page1 / 4

ACCT 424 Form 1120s - Form 1120S U.S Income Tax Return for...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online