Use Form 1120, U.S. Corporation Income Tax Return, to report the income, gains, losses, deductions, credits, and to figure the income tax liability of a corporation.

Use Schedule J (Form 1040) to elect to figure your 2024 income tax by averaging, over the previous 3 years (base years), all or part of your 2024 taxable income from your trade or business of farming or fishing.

If “Yes,” complete Part I of Schedule G (Form 1120) (attach Schedule G) . . . . . . b Did any individual or estate own directly 20% or more, or own, directly or indirectly, 50% or more of the total voting power of all

The corporation should report the tax withheld on Schedule J, line 20z. See the instructions for Schedule J, line 20z.

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If you used Schedule J to figure your tax for: • 2023, enter the amount from your 2023 Schedule J, line 11. • 2022 but not 2023, enter the amount from your 2022 Schedule J, line 15. • 2021 but not 2022 or 2023, enter the amount from your 2021 Schedule J, line 3. Otherwise, enter the taxable income from your . 2021. Form 1040, 1040-SR,

Use Form 1120, U.S. Corporation Income Tax Return, to report the income, gains, losses, deductions, credits, and to figure the income tax liability of a corporation. Who Must File. Unless exempt under section 501, all domestic corporations (including corporations in bankruptcy) must file an income tax return whether or not they have taxable income.

Schedule J Tax Computation and Payment (see instructions) Part I–Tax Computation 1 Check if the corporation is a member of a controlled group (attach Schedule O (Form 1120)) . . . .

Note: Form 1120, Schedule J, Line 9f on 2022 -2020 revisions read "Interest/tax due under section 453A(c) and/or section 453(1)". No editing required. IRM 3.11.16.11.18.7 -Added a new subsection for Form 1120, Schedule J, Line 9g for 2023 form revision. Schedule J, Line 9g -/RC 453(/) Tax (2023 revision) (1) No editing required.

A computer-generated Schedule J can be filed if it conforms to the IRS version of the schedule. If the corporation has more than one separate category of "other income," expand Schedule J as explained below to properly complete Parts I, II, III, and IV of the schedule. .