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Federal Free Printable 2019 Form 1120-S for 2020 Federal U.S. Income Tax Return for an S Corporation

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U.S. Income Tax Return for an S Corporation
2019 Form 1120-S

Form 1120-S U.S. Income Tax Return for an S Corporation OMB No. 1545-0123 Do not file this form unless the corporation has filed or is attaching Form 2553 to elect to be an S corporation. ▶ Go to www.irs.gov/Form1120S for instructions and the latest information. 2019 ▶ Department of the Treasury Internal Revenue Service For calendar year 2019 or tax year beginning A S election effective date TYPE OR PRINT B Business activity code number (see instructions) , 2019, ending D Employer identification number Number, street, and room or suite no. If a P.O. box, see instructions. E Date incorporated City or town, state or province, country, and ZIP or foreign postal code C Check if Sch. M-3 attached G H I J , 20 Name F Total assets (see instructions) $ Is the corporation electing to be an S corporation beginning with this tax year? Yes No If “Yes,” attach Form 2553 if not already filed Check if: (1) Final return (2) Name change (3) Address change (4) Amended return (5) S election termination or revocation Enter the number of shareholders who were shareholders during any part of the tax year . . . . . . . . ▶ Check if corporation: (1) Aggregated activities for section 465 at-risk purposes (2) Grouped activities for section 469 passive activity purposes Caution: Include only trade or business income and expenses on lines 1a through 21. See the instructions for more information. 1a Tax and Payments Deductions (see instructions for limitations) Income b c 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22a b c 23a b c d e 24 25 26 27 1c 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22c 23e 24 25 26 27 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, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge. Paid Preparer Use Only Signature of officer Print/Type preparer’s name Firm’s name Date Preparer’s signature ▲ ▲ Sign Here Gross receipts or sales . . . . . . . . . . . . . . . . 1a Returns and allowances . . . . . . . . . . . . . . . . 1b Balance. Subtract line 1b from line 1a . . . . . . . . . . . . . . . . . . . . Cost of goods sold (attach Form 1125-A) . . . . . . . . . . . . . . . . . . . Gross profit. Subtract line 2 from line 1c . . . . . . . . . . . . . . . . . . . Net gain (loss) from Form 4797, line 17 (attach Form 4797) . . . . . . . . . . . . . Other income (loss) (see instructions—attach statement) . . . . . . . . . . . . . . Total income (loss). Add lines 3 through 5 . . . . . . . . . . . . . . . . . ▶ Compensation of officers (see instructions—attach Form 1125-E) . . . . . . . . . . . Salaries and wages (less employment credits) . . . . . . . . . . . . . . . . . Repairs and maintenance . . . . . . . . . . . . . . . . . . . . . . . . Bad debts . . . . . . . . . . . . . . . . . . . . . . . . . . . . Rents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Taxes and licenses . . . . . . . . . . . . . . . . . . . . . . . . . . Interest (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . Depreciation not claimed on Form 1125-A or elsewhere on return (attach Form 4562) . . . . . Depletion (Do not deduct oil and gas depletion.) . . . . . . . . . . . . . . . . Advertising . . . . . . . . . . . . . . . . . . . . . . . . . . . . Pension, profit-sharing, etc., plans . . . . . . . . . . . . . . . . . . . . . Employee benefit programs . . . . . . . . . . . . . . . . . . . . . . . Other deductions (attach statement) . . . . . . . . . . . . . . . . . . . . Total deductions. Add lines 7 through 19 . . . . . . . . . . . . . . . . . ▶ Ordinary business income (loss). Subtract line 20 from line 6 . . . . . . . . . . . . Excess net passive income or LIFO recapture tax (see instructions) . . . 22a Tax from Schedule D (Form 1120-S) . . . . . . . . . . . . 22b Add lines 22a and 22b (see instructions for additional taxes) . . . . . . . . . . . . . 2019 estimated tax payments and 2018 overpayment credited to 2019 . 23a Tax deposited with Form 7004 . . . . . . . . . . . . . . 23b Credit for federal tax paid on fuels (attach Form 4136) . . . . . . . 23c Reserved for future use . . . . . . . . . . . . . . . . 23d Add lines 23a through 23d . . . . . . . . . . . . . . . . . . . . . . . Estimated tax penalty (see instructions). Check if Form 2220 is attached . . . . . . . ▶ Amount owed. If line 23e is smaller than the total of lines 22c and 24, enter amount owed . . . Overpayment. If line 23e is larger than the total of lines 22c and 24, enter amount overpaid . . . Enter amount from line 26: Credited to 2020 estimated tax ▶ Refunded ▶ May the IRS discuss this return with the preparer shown below? Yes No See instructions. Title Date Check if self-employed ▶ Firm’s EIN Firm’s address ▶ Phone no. For Paperwork Reduction Act Notice, see separate instructions. Cat. No. 11510H PTIN ▶ Form 1120-S (2019) Form 1120-S (2019) Schedule B 1 Page a c See the instructions and enter the: a Business activity ▶ Check accounting method: 2 Yes No Cash b Accrual Other (specify) ▶ b Product or service ▶ 3 At any time during the tax year, was any shareholder of the corporation a disregarded entity, a trust, an estate, or a nominee or similar person? If “Yes,” attach Schedule B-1, Information on Certain Shareholders of an S Corporation . . 4 At the end of the tax year, did the corporation: a Own directly 20% or more, or own, directly or indirectly, 50% or more of the total stock issued and outstanding of any foreign or domestic corporation? For rules of constructive ownership, see instructions. If “Yes,” complete (i) through (v) below . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (i) Name of Corporation b b 6 (ii) Employer Identification Number (if any) (iii) Country of Incorporation (iv) Percentage of Stock Owned (v) If Percentage in (iv) Is 100%, Enter the Date (if any) a Qualified Subchapter S Subsidiary Election Was Made Own directly an interest of 20% or more, or own, directly or indirectly, an interest of 50% or more in the profit, loss, or capital in any foreign or domestic partnership (including an entity treated as a partnership) or in the beneficial interest of a trust? For rules of constructive ownership, see instructions. If “Yes,” complete (i) through (v) below . . . . . . . (i) Name of Entity 5a 2 Other Information (see instructions) (ii) Employer Identification Number (if any) (iii) Type of Entity (iv) Country of Organization (v) Maximum Percentage Owned in Profit, Loss, or Capital At the end of the tax year, did the corporation have any outstanding shares of restricted stock? . . . . . . . If “Yes,” complete lines (i) and (ii) below. (i) Total shares of restricted stock . . . . . . . . . . ▶ (ii) Total shares of non-restricted stock . . . . . . . . . ▶ At the end of the tax year, did the corporation have any outstanding stock options, warrants, or similar instruments? If “Yes,” complete lines (i) and (ii) below. (i) Total shares of stock outstanding at the end of the tax year . ▶ (ii) Total shares of stock outstanding if all instruments were executed ▶ . . Has this corporation filed, or is it required to file, Form 8918, Material Advisor Disclosure Statement, to provide information on any reportable transaction? . . . . . . . . . . . . . . . . . . . . . . . . Check this box if the corporation issued publicly offered debt instruments with original issue discount . . . . ▶ 7 If checked, the corporation may have to file Form 8281, Information Return for Publicly Offered Original Issue Discount Instruments. 8 If the corporation (a) was a C corporation before it elected to be an S corporation or the corporation acquired an asset with a basis determined by reference to the basis of the asset (or the basis of any other property) in the hands of a C corporation and (b) has net unrealized built-in gain in excess of the net recognized built-in gain from prior years, enter the net unrealized built-in gain reduced by net recognized built-in gain from prior years. See instructions . . . . . . ▶ $ 9 Did the corporation have an election under section 163(j) for any real property trade or business or any farming business in effect during the tax year? See instructions . . . . . . . . . . . . . . . . . . . . . . . . Does the corporation satisfy one or more of the following? See instructions . . . . . . . . . . . . . . The corporation owns a pass-through entity with current, or prior year carryover, excess business interest expense. 10 a b c 11 a b The corporation’s aggregate average annual gross receipts (determined under section 448(c)) for the 3 tax years preceding the current tax year are more than $26 million and the corporation has business interest expense. The corporation is a tax shelter and the corporation has business interest expense. If “Yes,” complete and attach Form 8990. Does the corporation satisfy both of the following conditions? . . . . . . . . . . . . . . . . . . The corporation’s total receipts (see instructions) for the tax year were less than $250,000. The corporation’s total assets at the end of the tax year were less than $250,000. If “Yes,” the corporation is not required to complete Schedules L and M-1. Form 1120-S (2019) Form 1120-S (2019) Schedule B 12 13 14a b 15 Income (Loss) Deductions Credits Yes During the tax year, did the corporation have any non-shareholder debt that was canceled, was forgiven, or had terms modified so as to reduce the principal amount of the debt? . . . . . . . . . . . . . . . . If “Yes,” enter the amount of principal reduction . . . . . . . . . . . . . . ▶ $ During the tax year, was a qualified subchapter S subsidiary election terminated or revoked? If “Yes,” see instructions Did the corporation make any payments in 2019 that would require it to file Form(s) 1099? . . . . . . . . . If “Yes,” did the corporation file or will it file required Form(s) 1099? . . . . . . . . . . . . . . . . Is the corporation attaching Form 8996 to certify as a Qualified Opportunity Fund? . . . . . . . . . . . If “Yes,” enter the amount from Form 8996, line 14 . . . . . . . . . . . . . ▶ $ Schedule K Foreign Transactions Page Other Information (see instructions) (continued) Shareholders’ Pro Rata Share Items 3 No the . . . . . Total amount 1 2 3a b c 4 5 Ordinary business income (loss) (page 1, line 21) . . . . . . . . . . . . . . . 1 Net rental real estate income (loss) (attach Form 8825) . . . . . . . . . . . . . 2 Other gross rental income (loss) . . . . . . . . . . . . 3a Expenses from other rental activities (attach statement) . . . . 3b Other net rental income (loss). Subtract line 3b from line 3a . . . . . . . . . . . 3c Interest income . . . . . . . . . . . . . . . . . . . . . . . . . 4 Dividends: a Ordinary dividends . . . . . . . . . . . . . . . . . . . . 5a b Qualified dividends . . . . . . . . . . . . 5b 6 Royalties . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 7 Net short-term capital gain (loss) (attach Schedule D (Form 1120-S)) . . . . . . . . 7 8a Net long-term capital gain (loss) (attach Schedule D (Form 1120-S)) . . . . . . . . . 8a b Collectibles (28%) gain (loss) . . . . . . . . . . . . . 8b c Unrecaptured section 1250 gain (attach statement) . . . . . . 8c 9 Net section 1231 gain (loss) (attach Form 4797) . . . . . . . . . . . . . . . 9 10 Other income (loss) (see instructions) . . . Type ▶ 10 11 Section 179 deduction (attach Form 4562) . . . . . . . . . . . . . . . . . 11 12a Charitable contributions . . . . . . . . . . . . . . . . . . . . . . 12a b Investment interest expense . . . . . . . . . . . . . . . . . . . . . 12b c Section 59(e)(2) expenditures (1) Type ▶ (2) Amount ▶ 12c(2) d Other deductions (see instructions) . . . . Type ▶ 12d 13a Low-income housing credit (section 42(j)(5)) . . . . . . . . . . . . . . . . 13a b Low-income housing credit (other) . . . . . . . . . . . . . . . . . . . 13b c Qualified rehabilitation expenditures (rental real estate) (attach Form 3468, if applicable) . . 13c d Other rental real estate credits (see instructions) Type ▶ 13d e Other rental credits (see instructions) . . . Type ▶ 13e f Biofuel producer credit (attach Form 6478) . . . . . . . . . . . . . . . . 13f g Other credits (see instructions) . . . . . Type ▶ 13g 14a Name of country or U.S. possession ▶ b Gross income from all sources . . . . . . . . . . . . . . . . . . . . 14b c Gross income sourced at shareholder level . . . . . . . . . . . . . . . . 14c Foreign gross income sourced at corporate level d Reserved for future use . . . . . . . . . . . . . . . . . . . . . . . 14d e Foreign branch category . . . . . . . . . . . . . . . . . . . . . . 14e f Passive category . . . . . . . . . . . . . . . . . . . . . . . . 14f g General category . . . . . . . . . . . . . . . . . . . . . . . . 14g h Other (attach statement) . . . . . . . . . . . . . . . . . . . . . . 14h Deductions allocated and apportioned at shareholder level i Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . 14i j Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14j Deductions allocated and apportioned at corporate level to foreign source income k Reserved for future use . . . . . . . . . . . . . . . . . . . . . . . 14k l Foreign branch category . . . . . . . . . . . . . . . . . . . . . . 14l m Passive category . . . . . . . . . . . . . . . . . . . . . . . . 14m n General category . . . . . . . . . . . . . . . . . . . . . . . . 14n o Other (attach statement) . . . . . . . . . . . . . . . . . . . . . . 14o Other information p Total foreign taxes (check one): Paid Accrued . . . . . . . . . . . ▶ 14p q Reduction in taxes available for credit (attach statement) . . . . . . . . . . . . 14q r Other foreign tax information (attach statement) Form 1120-S (2019) Form 1120-S (2019) ReconOther ciliation Information Items Affecting Shareholder Basis Alternative Minimum Tax (AMT) Items Schedule K Post-1986 depreciation adjustment . . . . . . . . . . Adjusted gain or loss . . . . . . . . . . . . . . Depletion (other than oil and gas) . . . . . . . . . . Oil, gas, and geothermal properties—gross income . . . . . Oil, gas, and geothermal properties—deductions . . . . . . Other AMT items (attach statement) . . . . . . . . . . Tax-exempt interest income . . . . . . . . . . . . Other tax-exempt income . . . . . . . . . . . . . Nondeductible expenses . . . . . . . . . . . . . Distributions (attach statement if required) (see instructions) . . Repayment of loans from shareholders . . . . . . . . . Investment income . . . . . . . . . . . . . . . Investment expenses . . . . . . . . . . . . . . Dividend distributions paid from accumulated earnings and profits Other items and amounts (attach statement) 18 Income (loss) reconciliation. Combine the amounts on lines 1 through 10 in the far right column. From the result, subtract the sum of the amounts on lines 11 through 12d and 14p . 16 17 18 19 20 21 22 23 24 25 26 27 Balance Sheets per Books Assets Cash . . . . . . . . . . . . . Trade notes and accounts receivable . . . Less allowance for bad debts . . . . . . Inventories . . . . . . . . . . . U.S. government obligations . . . . . . Tax-exempt securities (see instructions) . . Other current assets (attach statement) . . . Loans to shareholders . . . . . . . . Mortgage and real estate loans . . . . . Other investments (attach statement) . . . Buildings and other depreciable assets . . . Less accumulated depreciation . . . . . Depletable assets . . . . . . . . . Less accumulated depletion . . . . . . Land (net of any amortization) . . . . . . Intangible assets (amortizable only) . . . . Less accumulated amortization . . . . . Other assets (attach statement) . . . . . Total assets . . . . . . . . . . . Liabilities and Shareholders’ Equity Accounts payable . . . . . . . . . Mortgages, notes, bonds payable in less than 1 year Other current liabilities (attach statement) . . Loans from shareholders . . . . . . . Mortgages, notes, bonds payable in 1 year or more Other liabilities (attach statement) . . . . Capital stock . . . . . . . . . . . Additional paid-in capital . . . . . . . Retained earnings . . . . . . . . . Adjustments to shareholders’ equity (attach statement) Less cost of treasury stock . . . . . . Total liabilities and shareholders’ equity . . 4 Total amount 15a b c d e f 16a b c d e 17a b c d Schedule L 1 2a b 3 4 5 6 7 8 9 10a b 11a b 12 13a b 14 15 Page Shareholders’ Pro Rata Share Items (continued) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Beginning of tax year (a) 15a 15b 15c 15d 15e 15f 16a 16b 16c 16d 16e 17a 17b 17c 18 End of tax year (b) (c) (d) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) Form 1120-S (2019) Form 1120-S (2019) Schedule M-1 Page 5 Reconciliation of Income (Loss) per Books With Income (Loss) per Return Note: The corporation may be required to file Schedule M-3. See instructions. 1 Net income (loss) per books 2 Income included on Schedule K, lines 1, 2, 3c, 4, 5a, 6, 7, 8a, 9, and 10, not recorded on books this year (itemize) 3 . . . . 5 Income recorded on books this year not included on Schedule K, lines 1 through 10 (itemize): a b Travel and entertainment $ 7 8 4 6 a Expenses recorded on books this year not included on Schedule K, lines 1 through 12 and 14p (itemize): Depreciation $ Add lines 1 through 3 Schedule M-2 . . . . . Tax-exempt interest $ Deductions included on Schedule K, lines 1 through 12 and 14p, not charged against book income this year (itemize): Depreciation $ a Add lines 5 and 6 . . . . . . . Income (loss) (Schedule K, line 18). Subtract line 7 from line 4 . . . . . Analysis of Accumulated Adjustments Account, Shareholders’ Undistributed Taxable Income Previously Taxed, Accumulated Earnings and Profits, and Other Adjustments Account (see instructions) (a) Accumulated adjustments account 1 2 3 4 5 6 7 Balance at beginning of tax year . . Ordinary income from page 1, line 21 Other additions . . . . . . . Loss from page 1, line 21 . . . . Other reductions . . . . . . . Combine lines 1 through 5 . . . . Distributions . . . . . . . . 8 Balance at end of tax year. Subtract line 7 from line 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ( ( (b) Shareholders’ undistributed taxable income previously taxed ) ) (c) Accumulated earnings and profits (d) Other adjustments account ( ) Form 1120-S (2019)
Extracted from PDF file 2019-federal-form-1120-s.pdf, last modified December 2019

More about the Federal Form 1120-S Corporate Income Tax Tax Return TY 2019

We last updated the U.S. Income Tax Return for an S Corporation in February 2020, so this is the latest version of Form 1120-S, fully updated for tax year 2019. You can download or print current or past-year PDFs of Form 1120-S directly from TaxFormFinder. You can print other Federal tax forms here.

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 Form 1120-S.

Form Code Form Name
1120-S (Schedule K-1) Shareholder’s Share of Income, Deductions, Credits, etc.
1120-S (Schedule B-1) Information on Certain Shareholders of an S Corporation
1120 (Schedule G) Information on Certain Persons Owning the Corporation's Voting Stock
1120 (Schedule H) U.S. Income Tax Return for Homeowners Associations
1120 (Schedule N) Foreign Operations of U.S. Corporations
1120 (Schedule B) Additional Information for Schedule M-3 Filers
1120 (Schedule D) Capital Gains and Losses
1120 (Schedule M-3) Net Income (Loss) Reconciliation for Corporations With Total Assets of $10 Million or More
1120 (Schedule O) Consent Plan and Apportionment Schedule for a Controlled Group
1120 (Schedule PH) U.S. Personal Holding Company (PHC) Tax

Download all  tax forms View all 775 Federal Income Tax Forms


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 Form 1120-S from the Internal Revenue Service in February 2020.

Show Sources >

Form 1120-S is a Federal Corporate Income Tax form. Like the Federal Form 1040, states each provide a core tax return form on which most high-level income and tax calculations are performed. While some taxpayers with simple returns can complete their entire tax return on this single form, in most cases various other additional schedules and forms must be completed, depending on the taxpayer's individual situation, to create a complete income tax return package.

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 Form 1120-S

We have a total of nine past-year versions of Form 1120-S in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2019 Form 1120-S

2019 Form 1120-S

2018 Form 1120-S

2018 Form 1120S

2017 Form 1120-S

2017 Form 1120S

2016 Form 1120-S

2016 Form 1120S

U.S. Income Tax Return for an S Corporation 2015 Form 1120-S

2015 Form 1120S

U.S. Income Tax Return for an S Corporation 2014 Form 1120-S

2014 Form 1120 S

U.S. Income Tax Return for an S Corporation 2013 Form 1120-S

2013 Form 1120 S

U.S. Income Tax Return for an S Corporation 2012 Form 1120-S

2012 Form 1120 S

U.S. Income Tax Return for an S Corporation 2011 Form 1120-S

2011 Form 1120-S


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