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Federal Free Printable Schedule K (Form 1120-IC-DISC) (Rev. November 2018) for 2019 Federal Shareholder's Statement of IC-DISC Distributions

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Shareholder's Statement of IC-DISC Distributions
Schedule K (Form 1120-IC-DISC) (Rev. November 2018)

Shareholder's Statement of IC-DISC Distributions SCHEDULE K (Form 1120-IC-DISC) (Rev. November 2018) Department of the Treasury Internal Revenue Service Part I 1 2 3 For calendar year 20 beginning , 20 OMB No. 1545-0123 or tax year , ending COPY A—Attach to Form 1120-IC-DISC , 20 (Complete for each shareholder. See instructions on back of Copy C.) Taxable Distributions Deemed distributions: a Under section 995(b)(1) . . . . . . . . . . . . . b Annual installment under section 995(b)(2) . . . . . . . c Total. Add lines 1a and 1b . . . . . . . . . . . . Actual taxable distributions . . . . . . . . . . . . . . . . . . . . . Total taxable distributions. Add line 1c and line 2. Enter here and in Section A or B below . . . . . . . . . . . . . . . 1a 1b 1c 2 3 Section A—C Corporations 4a Part of line 3 above entitled to section 243 dividends-received deduction . . b Part of line 3 above not entitled to section 243 dividends-received deduction . . . . . . . . . . . . . . 4a 4b . . . . . . . 5 Actual distributions from previously taxed income and accumulated pre-1985 DISC income Other actual nontaxable distributions . . . . . . . . . . . . . . . . . . . Total nontaxable distributions. Add lines 6 and 7 . . . . . . . . . . . . . . . . . . . . 6 7 8 . . . . 9 10 Section B—Shareholders Other Than C Corporations 5 Amount of taxable dividends included on line 3 Part II 6 7 8 Part III 9 10 . . . . . . . . . . Nontaxable Distributions Other Information Accumulated IC-DISC income attributable to stock sold during the year . Deferred DISC income. See instructions . . . . . . . . . . . . Shareholder’s name, identifying number, and address (including ZIP code) . . . . . . . . . . . . Name, employer identification number, and address (including ZIP code) of IC-DISC, former DISC, or former IC-DISC For Paperwork Reduction Act Notice, see the Instructions for Form 1120-IC-DISC. www.irs.gov/Form1120icdisc Cat. No. 11474A Schedule K (Form 1120-IC-DISC) (Rev. 11-2018) Shareholder's Statement of IC-DISC Distributions SCHEDULE K (Form 1120-IC-DISC) (Rev. November 2018) Department of the Treasury Internal Revenue Service Part I 1 2 3 , 20 beginning OMB No. 1545-0123 COPY B— For Shareholder's records or tax year For calendar year 20 , ending , 20 Taxable Distributions Deemed distributions: a Under section 995(b)(1) . . . . . . . . . . . . . b Annual installment under section 995(b)(2) . . . . . . . c Total. Add lines 1a and 1b . . . . . . . . . . . . Actual taxable distributions . . . . . . . . . . . . . . . . . . . . . Total taxable distributions. Add line 1c and line 2. Enter here and in Section A or B below . . . . . . . . . . . . . . . 1a 1b 1c 2 3 Section A—C Corporations 4a Part of line 3 above entitled to section 243 dividends-received deduction . . b Part of line 3 above not entitled to section 243 dividends-received deduction . . . . . . . . . . . . . . 4a 4b . . . . . . . 5 Actual distributions from previously taxed income and accumulated pre-1985 DISC income Other actual nontaxable distributions . . . . . . . . . . . . . . . . . . . Total nontaxable distributions. Add lines 6 and 7 . . . . . . . . . . . . . . . . . . . . 6 7 8 . . . . 9 10 Section B—Shareholders Other Than C Corporations 5 Amount of taxable dividends included on line 3 Part II 6 7 8 Part III 9 10 . . . . . . . . . . Nontaxable Distributions Other Information Accumulated IC-DISC income attributable to stock sold during the year . Deferred DISC income. See instructions . . . . . . . . . . . . Shareholder’s name, identifying number, and address (including ZIP code) www.irs.gov/Form1120icdisc Cat. No. 11474A . . . . . . . . . . . . Name, employer identification number, and address (including ZIP code) of IC-DISC, former DISC, or former IC-DISC Schedule K (Form 1120-IC-DISC) (Rev. 11-2018) Instructions for Shareholder Section references are to the Internal Revenue Code. Purpose of forms. Copy B of Schedule K (Form 1120-IC-DISC) reports an actual or deemed distribution from an IC-DISC, former IC-DISC, or former DISC. It also reports deferred DISC income from an IC-DISC. Keep it for your records; do not file it with your income tax return. Part I—Taxable Distributions Report as distributions from an IC-DISC: 1. Deemed and actual taxable distributions; and 2. Gain, to the extent of accumulated IC-DISC income, on the sale of stock (see Disposing of IC-DISC Stock below). Line 1—Deemed distributions. You are treated as having received deemed distributions (line 1c) as of the last day of the IC-DISC tax year. You must pay tax on the distributions in your tax year that includes that date. Line 2—Actual taxable distributions. You must pay tax on actual taxable distributions in the year of receipt. Line 4. Line 4a shows the part of the total taxable distribution on line 3 that qualifies for the 50% or 65% dividends-received deduction under section 243. Line 4b shows the part that does not qualify for the deduction. Line 5. If you are an individual, partnership, S corporation, estate, or trust, line 5 shows the amount of line 3 distributions taxable to you as a dividend. For a tax-exempt entity, treat any deemed distribution or actual distribution of previously untaxed income as derived from the conduct of an unrelated trade or business. Disposing of IC-DISC stock. If you disposed of stock in an IC-DISC, former IC-DISC, or former DISC, you may need to include all or part of the gain in your income. The gain, reported as a dividend under section 995(c), is included to the extent of accumulated IC-DISC income attributable to the stock while you held it (line 9). This dividend is not eligible for the section 243 deduction. For a tax-exempt entity, treat the gain under section 995(c) as derived from the conduct of an unrelated trade or business. Foreign shareholders treat all gains on the disposition of stock in an IC-DISC, former IC-DISC, or former DISC, and all distributions from accumulated IC-DISC income or accumulated pre-1985 DISC income, including deemed distributions, as effectively connected with the conduct of a trade or business through a permanent establishment within the United States. See section 996(g) for details. Acquiring IC-DISC stock. If you acquired stock in an IC-DISC and subsequently received a distribution with respect to that stock, you may be able to treat part of that distribution as a nontaxable distribution. See section 996(d) for details. Part II—Nontaxable Distributions Actual distributions from previously taxed income and accumulated pre-1985 DISC income are generally not taxable to the extent of your basis in the stock for which the distribution was made. Except for distributions of accumulated IC-DISC income and of earnings and profits from the time before the corporation became an IC-DISC, actual distributions are not taxable to the extent of your basis in the stock for which the distribution was made. Treat distributions in excess of your basis as a gain from the sale or exchange of property. See section 996(e). Part III—Other Information Line 10—Deferred DISC income. Line 10 shows your share of the IC-DISC’s deferred income for the year. Section 995(f) imposes an interest charge on the additional tax you would pay if you included this deferred income in your income for your tax year that ends with or includes the IC-DISC’s tax year end shown on Schedule K. Complete Form 8404, Interest Charge on DISC-Related Deferred Tax Liability, to figure the interest charge. Future developments. For the latest information about developments related to Schedule K (Form 1120-IC-DISC) and its instructions, such as legislation enacted after they were published, go to www.irs.gov/ Form1120icdisc. Schedule K (Form 1120-IC-DISC) (Rev. 11-2018) Shareholder's Statement of IC-DISC Distributions SCHEDULE K (Form 1120-IC-DISC) (Rev. November 2018) Department of the Treasury Internal Revenue Service Part I 1 2 3 For calendar year 20 , 20 beginning OMB No. 1545-0123 or tax year , ending COPY C— For IC-DISC's records , 20 (Complete for each shareholder. See instructions on back of Copy C.) Taxable Distributions Deemed distributions: a Under section 995(b)(1) . . . . . . . . . . . . . b Annual installment under section 995(b)(2) . . . . . . . c Total. Add lines 1a and 1b . . . . . . . . . . . . Actual taxable distributions . . . . . . . . . . . . . . . . . . . . . Total taxable distributions. Add line 1c and line 2. Enter here and in Section A or B below . . . . . . . . . . . . . . . 1a 1b 1c 2 3 Section A—C Corporations 4a Part of line 3 above entitled to section 243 dividends-received deduction . . b Part of line 3 above not entitled to section 243 dividends-received deduction . . . . . . . . . . . . . . 4a 4b . . . . . . . 5 Actual distributions from previously taxed income and accumulated pre-1985 DISC income Other actual nontaxable distributions . . . . . . . . . . . . . . . . . . . Total nontaxable distributions. Add lines 6 and 7 . . . . . . . . . . . . . . . . . . . . 6 7 8 . . . . 9 10 Section B—Shareholders Other Than C Corporations 5 Amount of taxable dividends included on line 3 Part II 6 7 8 Part III 9 10 . . . . . . . . . . Nontaxable Distributions Other Information Accumulated IC-DISC income attributable to stock sold during the year . Deferred DISC income. See instructions . . . . . . . . . . . . Shareholder’s name, identifying number, and address (including ZIP code) www.irs.gov/Form1120icdisc Cat. No. 11474A . . . . . . . . . . . . Name, employer identification number, and address (including ZIP code) of IC-DISC, former DISC, or former IC-DISC Schedule K (Form 1120-IC-DISC) (Rev. 11-2018) Instructions for IC-DISC Section references are to the Internal Revenue Code. Future developments. For the latest information about developments related to Schedule K (Form 1120-IC-DISC) and its instructions, such as legislation enacted after they were published, go to www.irs.gov/ Form1120icdisc. General Instructions Complete Schedule K (Form 1120-IC-DISC) for each shareholder who had an actual or deemed distribution during the tax year or to whom the corporation is reporting deferred DISC income for the tax year. Attach Copy A to Form 1120IC-DISC. Give Copy B to the shareholder by the last day of the second month after your tax year ends. Keep Copy C for your records. Note: Do not report on Form 1099-DIV actual and deemed distributions or deferred DISC income. Specific Instructions Part I—Taxable Distributions Line 1. On line 1a, enter the shareholder’s pro rata share of the deemed distributions under section 995(b)(1). On line 1b, enter the shareholder’s pro rata share of the annual installment under section 995(b)(2). The sum of the amounts on these lines for all shareholders should equal the total the corporation reports in Part I and Part III, Schedule J, Form 1120-IC-DISC. Line 2. Enter the amount of actual distributions that are taxable to the shareholder. These distributions come from accumulated IC-DISC income and other earnings and profits. Line 4a. Enter on line 4a each shareholder’s amount of dividends out of other earnings and profits that are eligible for the dividendsreceived deduction under section 243. No dividends-received deduction is allowed for a dividend from an IC-DISC, former IC-DISC, or former DISC if it is: 1. Paid out of accumulated IC-DISC income or accumulated pre-1985 DISC income, 2. Paid out of previously taxed income, or 3. A deemed distribution under section 995(b)(1). Line 5. Complete for shareholders that are individuals, partnerships, S corporations, estates, or trusts. Enter on line 5 each shareholder’s pro rata share of taxable dividends included on line 3. Part II—Nontaxable Distributions Line 6. Enter the shareholder’s pro rata share of actual distributions from previously taxed income and distributions from accumulated pre-1985 DISC income. The total of line 6 for all shareholders should equal the total the corporation reports on Form 1120-IC-DISC, Schedule J, Part IV, line 4a. Line 7. Enter the shareholder’s pro rata share of actual nontaxable distributions out of other than (1) previously taxed income or accumulated pre-1985 DISC income, (2) accumulated IC-DISC income, and (3) other earnings and profits. The total of this line for all shareholders should equal the total nontaxable income reported on Form 1120IC-DISC, Schedule J, Part IV, line 4d. Part III—Other Information Line 9. If (1) a shareholder disposes of stock in an IC-DISC or former DISC, or (2) the stock of an IC-DISC, former IC-DISC, or former DISC is disposed of in a transaction that terminates the separate corporate existence of an IC-DISC, former IC-DISC, or former DISC (other than a mere change in the place of organization), enter on line 9 the accumulated IC-DISC income attributable to the stock that was accumulated during the period the shareholder held the stock. Line 10. Enter the shareholder’s share of the corporation’s deferred DISC income at tax year end. See section 995(f) and the instructions for Schedule J, Part V, in the Instructions for Form 1120-IC-DISC for information on figuring deferred DISC income. The total of this line for all shareholders should equal the total amount reported on Form 1120-IC-DISC, Schedule J, Part V, line 3. Schedule K (Form 1120-IC-DISC) (Rev. 11-2018)
Extracted from PDF file 2018-federal-1120-ic-disc-schedule-k.pdf, last modified November 2018

More about the Federal 1120-IC-DISC (Schedule K) Corporate Income Tax TY 2018

We last updated the Shareholder's Statement of IC-DISC Distributions in December 2018, so this is the latest version of 1120-IC-DISC (Schedule K), fully updated for tax year 2018. You can download or print current or past-year PDFs of 1120-IC-DISC (Schedule K) directly from TaxFormFinder. You can print other Federal tax forms here.


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Related Federal Corporate Income Tax Forms:

TaxFormFinder has an additional 774 Federal income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Federal 1120-IC-DISC (Schedule K).

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Form 1120-IC-DISC Interest Charge Domestic International Sales Corporation Return
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Form Sources:

The Internal Revenue Service usually releases income tax forms for the current tax year between October and January, although changes to some forms can come even later. We last updated Federal 1120-IC-DISC (Schedule K) from the Internal Revenue Service in December 2018.

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About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of Federal 1120-IC-DISC (Schedule K)

We have a total of eight past-year versions of 1120-IC-DISC (Schedule K) in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2018 1120-IC-DISC (Schedule K)

Schedule K (Form 1120-IC-DISC) (Rev. November 2018)

2017 1120-IC-DISC (Schedule K)

Form 1120-IC-DISC (Schedule K) (Rev. December 2016)

2016 1120-IC-DISC (Schedule K)

Form 1120-IC-DISC (Schedule K) (Rev. December 2016)

Shareholder's Statement of IC-DISC Distributions—2015 2015 1120-IC-DISC (Schedule K)

2015 Form 1120-IC-DISC (Schedule K)

Shareholder's Statement of IC-DISC Distributions-2014 2014 1120-IC-DISC (Schedule K)

2014 Form 1120-IC-DISC (Schedule K)

Shareholder's Statement of IC-DISC Distributions-2013 2013 1120-IC-DISC (Schedule K)

2013 Form 1120-IC-DISC (Schedule K)

Shareholder's Statement of IC-DISC Distributions 2012 1120-IC-DISC (Schedule K)

2012 Form 1120-IC-DISC (Schedule K)

Shareholder's Statement of IC-DISC Distributions 2011 1120-IC-DISC (Schedule K)

2011 Form 1120-IC-DISC (Schedule K)


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