Form 1120: What is a 1120 Tax Form and How to File it?

It's used by corporations to report income, losses, gains, and deductions for tax purposes.

Form 1120 Overview

All domestic corporations must file Form 1120, except those exempt under Section 501.

Mandatory Filing

Different schedules like 1120-F for foreign corporations and 1120-H for homeowners associations serve specific purposes.

Variants of Form 1120

 Available on the IRS website under "Forms and Instructions" for easy access.

Downloading the Form

Generally due by the 15th day of the 4th month after the end of the tax year, or by the 15th day of the 3rd month for fiscal year ending June 30.

Filing Deadlines

Form 7004 allows corporations to request an extension, though filing after the deadline isn't permissible.

Extensions

Can be filed electronically or via paper, with all necessary schedules attached in proper order.

Filing Options

Includes sections for income, deductions, tax payments, and various schedules (C, J, K, L, M-1, M-2) depending on the corporation's specifics.

Form Contents