What is the purpose of line 3 on Schedule O (Form 1120)?

Line 3 on Schedule O (Form 1120) requires controlled groups to indicate whether they are adopting, amending, terminating, or not adopting/amending/terminating an apportionment plan for the tax year. The controlled group must check one of the boxes based on their situation.

What is a short tax year for Schedule O purposes?

A short tax year for Schedule O purposes refers to a tax year that does not include a December 31 date. In such cases, the component members only need to provide identifying information for other members of the controlled group and do not have to provide apportionment information.

What happens if a corporation does not have an apportionment plan and is not adopting one?

If a corporation does not have an apportionment plan and is not adopting one, then all tax benefits must be shared equally among the controlled group members. The tax-benefit information must be reported in Part II.

Form 1120 Schedule O

Fill out this form

Chat with document

Create Web Form

Consent Plan and Apportionment Schedule for a Controlled Group

Rev. December 2018

This document is a Consent Plan and Apportionment Schedule for controlled groups to attach to Form 1120 series. It includes instructions for type of controlled group, membership duration, and consent/representation from corporations regarding apportionment plan adoption or amendment. The form also includes sections for termination of current plans and statute of limitations, as well as a short tax year indication.

Instructions

Form 1120 Instructions for Schedule O - Instructions for Schedule O (Form 1120), Consent Plan and Apportionment Schedule for a Controlled Group

Search tags

FAQ

What is the purpose of line 3 on Schedule O (Form 1120)?
Line 3 on Schedule O (Form 1120) requires controlled groups to indicate whether they are adopting, amending, terminating, or not adopting/amending/terminating an apportionment plan for the tax year. The controlled group must check one of the boxes based on their situation.
What is a short tax year for Schedule O purposes?
A short tax year for Schedule O purposes refers to a tax year that does not include a December 31 date. In such cases, the component members only need to provide identifying information for other members of the controlled group and do not have to provide apportionment information.
What happens if a corporation does not have an apportionment plan and is not adopting one?
If a corporation does not have an apportionment plan and is not adopting one, then all tax benefits must be shared equally among the controlled group members. The tax-benefit information must be reported in Part II.

HOW TO

How to fill out Form 1120 Schedule O for free, online in 3 easy steps:

1
Open form template in editor
Click on the “Get this template” button.
2
Fill out Form 1120 Schedule O
Wait a moment and you will be redirected to our online PDF Filler app.
3
Download file
Download your completed Form 1120 Schedule O for free. You can also save it to a cloud storage.

ABOUT

Tax forms

Form 1120 Schedule O is one of Tax forms that are documents used to report income, deductions, and tax liability to the relevant tax authority. These forms are an essential part of the tax filing process and are used to ensure individuals and businesses comply with tax laws and accurately calculate their tax obligations.

The specific tax forms required can vary depending on factors such as an individual's filing status, sources of income, and the country's tax laws. However, here are some common types of tax forms:

Individual Income Tax Forms: These forms, such as the 1040 series in the United States, are used by individuals to report their income, claim deductions and credits, and calculate their tax liability.

Business Tax Forms: Businesses, including sole proprietorships, partnerships, corporations, and self-employed individuals, may have to file various forms to report their income, expenses, and taxes owed. Examples include Schedule C (Profit or Loss from Business) and Form 1120 (U.S. Corporation Income Tax Return).

Employment Tax Forms: Employers are required to report employee wages and withhold and remit payroll taxes. Forms such as W-2 (Wage and Tax Statement) and 941 (Employer's Quarterly Federal Tax Return) are used for this purpose.

Investment and Retirement Account Forms: These forms are used to report investment income, capital gains, and losses, as well as contributions and distributions from retirement accounts. Examples include Form 1099-DIV (Dividends and Distributions) and Form 5498 (IRA Contribution Information).

Estate and Gift Tax Forms: When a person passes away or makes significant gifts, specific forms such as Form 706 (United States Estate (and Generation-Skipping Transfer) Tax Return) and Form 709 (United States Gift (and Generation-Skipping Transfer) Tax Return) are used to report and calculate any applicable estate or gift taxes.

It is important to note that tax laws and forms can change over time, so individuals and businesses should consult the relevant tax authority or seek professional tax advice to ensure compliance with the current requirements.

FEATURES

PDF Filler

The easiest way to fill Form 1120 Schedule O online

Quickly fill out Form 1120 Schedule O
Looking for a way to quickly fill Form 1120 Schedule O online? With our online free PDF form filler, you’ll know how to how to edit and fill this pdf document in less than a minute.
Easy to use online PDF editor
Fed up with printing out PDF files so you can edit them, before rescanning and sending them back? Edit PDF documents for free online. Use our online pdf editor to save time and paper.
Great tools, all platforms
Wondering how to fill in Form 1120 Schedule O on a Mac, or maybe how to use a PDF filler free? Our online PDF tools work on all platforms.
Secure file storage
Completed "Form 1120 Schedule O" files are stored in a secured database managed by Amazon Cloud hosting. You can delete your files from our system anytime. In any case, these files are automatically deleted after 24 hours.
Chat with Form 1120 Schedule O
Chat with "Form 1120 Schedule O" on Chatize that is a free PDF reader assistant. Ask questions and get answers from "Form 1120 Schedule O". Just click on Chat With Document button above.

Products

Docs

Websites

About