The assignment I'm working on is to complete form 1120 with the information below. I have filled in all parts except the $10,000 from the US Treasury Note. Where on Form 1120 does that amount go?

Facts in 2019:
ABC Inc. 123 Oak Dr Houston TX 77002.
EIN-74-1111111.
Date Incorporated 1/1/2000.
Total Assets $5,390,000 as of 12/31/2019.
ABC Inc.'s Net Income per books is $440,000.
Gross Receipts $1,000,000
Cost of Goods Sold $400,000 (assume no beginning and ending inventory and purchases were $400,000).
ABC Inc. uses the lower of cost or market method for valuing inventory and also uses the FIFO method for determining the cost of goods sold. Cash method of accounting is used for all other expenses other than inventory.
Business Activity Code is 448140 and business activity and product is retail trade of family clothing.
Compensation of $200,000 was paid to president and sole shareholder, John Doe, a U.S. citizen, SSN-222-22-2222.
Salaries and wages paid to employees were $50,000.
Office Rent paid for corporate headquarters was $20,000.
ABC Inc. contributed cash of $60,000 to the Salvation Army, a non-profit charitable organization.
Television advertising to promote the company products was $40,000
ABC Inc. elected to carry over $1,250 of 2019 overpayment credited to 2019.
ABC Inc. paid $25,000 each of 4 quarters for estimated tax payments in 2019
ABC Inc. owns 10% of Better Inc., EIN: 74-3333333, a domestic corporation, and received dividends in the amount of $100,000 in 2019
ABC Inc. owns 40% of Best Inc., EIN: 74-4444444, a domestic corporation, and received dividends in the amount of $100,000 in 2019.
ABC Inc. is a calendar year taxpayer and not affiliated with any other entity.
No dividends were declared or paid by ABC Inc.
No Forms 1099-Misc were required to be issued.
ABC Inc. received $10,000 from US Treasury Notes during 2019.
ABC Inc. has always shown a profit since inception.
RIDE ABC.pdf X RIDE ABC.pdf ABC.pdf ABC.pdf X + X | File | C:/Users/jamiw/Desktop/ABC.pdf Not syncing . . . 4 of 11 - + 2 | A Read aloud | Draw V Highlight & Erase Check if: (attach Form 851) Name B Employer iden Life nonlife consol.' dated return. . . . 0I TYPE ABC Inc. Number, street, and room or suite no. If a P.O. box, see instructions. 74-1111111 OR C Date incorporated Jattach Sch. PHi PRINT 123 Oak Dr. 01/01/2000 Personal service corp City or town, state or province, country, and ZIP or foreign postal code (see instructions). Total assets (see instructions) Houston, TX 77002 5, 390 , 000 . Schedule M-3 attached ECheck if: (1) Initial return (2) Final return (3) Name change (4) Address change 1a Gross receipts or sales b Returns and allowance . 1a 1,000,000. C Balance. Subtract line 1b from line la. 1,000, 000. 2 Cost of goods sold (attach Form 1125-A) . . 400 ,000. Income 3 600,000. 4 Dividends and inclusions edule C, line 23) 200 ,000 . Interest . 6 Gross rents . . 7 Gross royalties . 8 Capital gain net income (attach Schedule D (Form 1120)) . 9 Net gain or (loss) from Form 4797, Part II, lin 10 Other income (see instr 11 Total income. Add lines 3 through 10 12 Compensation of officers (see instructions NOT FIL 11 ans on deductions 13 12 800,000. 13 200,000. 14 Repairs and maintenance 15 Bad debts 14 50,000. 15 16 Rents, . . . . . . 16 17 Taxes and licenses 17 20,000. 18 Interest (see instructions) . . . . . 18 ns for limita 19 Charitable contributions . . . . . . ' 19 0 Depreciation from Form 4562 not claim 20 49,000. ch Form 4562) 21 Depletion , 21 22 Advertising . . . . . . . . . . . 22 40 ,000. 23 Pension, profit-sharing, etc., plans 23 24 Employee benefit programs 25 24 Reserved for future use . . 25 26 Other deductions (attach statement) 26 Deduction 27 Total deductions. Add lines 12 through 26 359,000. 28 Taxable income before net of ons. Subtract line 27 from line 11 . 441 ,000. 29a Net operating loss deduction (see instructions) 29a b Special deductions (Schedul e C, line 24) . 29b 115,000. c Add and 29b. 30 Taxable income. Subtract line 29c from line 28. See instructions 29c 326, 000 . 31 Total tax (Schedule J, Part 1, line 30 115,000. 31 68, 460 . ax, Refundable Cre and Payments 32 2019 net 965 tax liability paid 32 33 Total payments, c , and section 965 net tax liability (Schedule J, Part III, line 23) 33 101 , 250. 34 Estimated tax penalty. See instructions. Check if Form 2220 is attached. 35 34 Amount owed. If line 33 is am the total of lines 31, 32, and 34, enter 35 5 Overpayment. If line 33 is larger than the total of lines 31, 32, and 34, enter amount overpaid 36 37 Enter amount from line 36 you want: Credited to 2020 estimated tax 32 ,790. Under penalties of perjury, I declare that I have examined this return, including Refunded |37 32 , 790. Sign correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge. tatements, and to the beat of my nowledge and belief, it is true Horo May the IRS discuss this return with the preparer shown below? Signature of officer Date Title See Instructions. Yes X N Paid Print/Type preparer's name Preparer's signature Date Check it PTIN Preparer Eval Prep elf-employed Use Only Firm's name Firm's EIN Firm's address Phone no. For Paperwork Reduction Act Notice, see separate instructions. UYA Form 1120 (2010) Type here to search O 9 X 3:24 PM 9/19/2020 ERIDE ABC.pdf X QBE ABC.pdf X DDE ABC.pdf X + X | File | C:/Users/jamiw/Desktop/ABC.pdf Not syncing . . . 5 of 11 + 2 A' Read aloud | Draw Highlight & Erase Schedule C Dividends, Inclusions, and Special Deductions (see instructions) (a) Dividends and inclusions b) % (c) Special deductions (a) x (b) 1 Dividends from less-the inanced stock ). . . . . . . . 100,000 50 50,000. 2 Dividends from 20%-or- stock). 100,000. 65 65,000. Dividends on certain debt-finan corporations. 4 Dividends on certain preferred stock of less-than-20%-owned public utilities . 23.3 5 Dividends on certain preferred stock of 20%-or-m ed public utilities . . . 26.7 Dividends from less-than Certain FSCs 50 7 Dividends from 20%-or-more-owned foreign corporations and certain FSCs . . . . . . 65 8 Dividends from wholly owned foreign subsidiaries . 100 9 Subtotal. Add lines 1 through 8. See in structions for limitations . . . . . . . . . .. 0 Dividends from domestic corporations received by a small business investment 200,000. instruction 115,000. company operating under the Small Business Investment Act of 1958 11 Dividends from affiliated group members 13 2 Dividends from certain FSCs. . . . . . . . . NOT 100 100 100 Foreign-source portion of dividends received from a specified 10%-owned foreign corporation (excluding hybrid dividends) (see instructions) . . . 100 14 Dividends from foreign corporations not included on line 3, 6, 7, 8, 11, 12, or 13 (including any hybrid dividends) 15 Section 965(a) inclusion . a Subpart F inclusions derived from the sale by a controlled foreign corporation (CFC) of the stock of a lower-tier foreign corporation treated as a dividend (attach Form(s) 5471) (see instructions) 100 b Subpart F inclusions derived from hybrid dividends of tiered corporations (attach Form(s) 5471) (see instructions) . Other inclusions from CFCs under subpart F not included on line 15, 16a, 16b, or 17 (attach Form(s) 5471) (see instructions) 7 Global Intangible Low-Taxed Income (GILTI) (attach Form(s) 547 1 and Form 8992) . 18 Gross-up for foreign taxes deemed paid. . . 19 IC-DISC and former DISC dividends not included on line 1, 2, or 3 . Other dividends 21 Deduction for dividends paid on certain preferred stock of public utilities . . . 22 23 Section 250 deduction (attach Form 8993) . Total dividends and inclusions. Add column (a), lines 9 through 20. Enter here and on page 1, line 4 . . . 200 , 000 . 24 Total special deductions. Add column (c), lines 9 through 22. Enter here and on page 1, line 296 115,000. UYA Form 1120 (2019) Type here to search O EI X 3:24 PM 9/19/2020 EPDE ABC.pdf X QBE ABC.pdf X DDE ABC.pdf X + X | File | C:/Users/jamiw/Desktop/ABC.pdf Not syncing . . . 6 of 11 + 2 A' Read aloud | Draw Highlight Erase TOIn 1120 (2019) ABC Inc . Schedule J Tax Computation and Payment (see instructions) 74-1111III Page Part I-Tax Computation Check if the corporation is a member of olled group (attach Schedule O (Form 1120)). See instructions Income tax. See instructions . . . 68, 460. Base erosion minimum tax amount (atta Add lines 2 and 3 68 , 460. 5a Foreign tax credit (attach Form 1118) . Credit from Form 8834 (see instructions) . . 5a c General business credit (attach Form 3800), d Credit for prior year minimum tax (attach Form 8827), 5d e Bond credits from Form 8912. Se 6 Total credits. Add lines 5a through 5e 7 Subtract line 6 from line 4 . 68 , 460. 8 Personal holding company tax (attach Schedule PH (Form 1 120)). ga Recapture of investment credit (attach Form 4255). b Recapture of low-income housing credit (attach Form 8611) . 9a 9b Interest due under the look-back method-co long-term contracts (attach Form 8697) . d Interest due under the look-back me cast method (attach Form 8866) . . . . . Alternative tax on qualifying shipping activities (attach Form 8902) Other (see instructions attach statement) . Total. Add lines Sa through of. . . . 982 8 10 1 Total tax. Add lines 7. 8, and 10. Enter here and on page 1. line 31 10 11 68, 460 . Part II-Section 965 Payments (see instructions) 12 2019 net 965 tax liability paid from Form 965-B, Part II, column (k). line 3. Enter here and on page 1, line 32. 12 Part III-Payments, Refundable Credits, and Section 965 Net Tax Liability 3 2018 overpayment credited to 2019 . . . . . . . 13 1, 250. 14 2019 estimated tax payments, . 15 2019 refund applied for on Form 446 100 ,000. 16 Combine lines 13, 14, and 15 . 16 17 101 , 250 . 17 Tax deposited with Form 7004 , 18 Withholding (see instructions) 19 Total payments. Add lines 16, 17, and 18 . 19 101 , 250 . 20 Refundable credits from: Form 2430 b Form 4136 c Form 8827, line 5c d Other (attach statemer 21 Total credits. Add lines 20a through 20d. 22 2019 net 965 tax liability from Form 965-B, Part I, column (d), line 3. See instructions . . 22 Total payment, credits, and section 965 nett 5 net tax liability. Add lines 19, 21, and 22. Enter here and on page 1. line 33 . . 101, 250. JYA Form 1120 (2019) Screenshot saved The screenshot was added to your OneDrive. OneDrive Type here to search 3:24 PM 9/19/2020 ERIDE ABC.pdf X QBE ABC.pdf X ODE ABC.pdf X + X | File | C:/Users/jamiw/Desktop/ABC.pdf Not syncing . . . 7 of 11 - | A' Read aloud | Draw V Highlight & Erase Form 1120 (2019) ABC Inc . Schedule K Other Information (see instructions) 74-1111111 Page 4 Check accounting method: a X Cash b Accrual c Other (specify) Yes No See the instructions and enter the: Business activity code no. > 4 48140 b Business activity .retail trade c Product or service . family clothing Is the corporation a subsidiary in an affiliated group or a parent-subsidiary controlled group? . . X If "Yes," enter name and EIN of the parent corporation At the end of the tax year: a Did any foreign or domestic corporation, partnership (including any entity treated as a partnership), trust, or tax-exempt organization own directly 20% or more, or own, directly or indirectly, 50% or more of the total voting power of all classes of the corporation's stock enti b Did any individual or es rectly 20% or more, or own, directly or indirectly, 50% or more of the total voting power of all . . . . . . . . classes of the corporation hedule G (Form 1120) (attach Schedule G) . . . . . 5 a At the end of the tax year, did the corporation: Own directly 20% or more, or own, directly or indirectly, 50% or more of the total voting power of all classes of stock entitled to vote of any foreign or domestic corporation not included on Form 851, Affiliations Schedule? For rules of constructive ownership, see instr. "Yes," complete (0) through (iv) below. (1) Name of Corporation Identification Number ili) Country of (v) Percentage DO NOT (if any) b Own directly an interest of 20% or more, or own, directly or indirectly, an interest of 50% or more 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 (iv) below. (1) Name of Entity Iden mi climber (ill) Country of (iv) Maximum Organization Profit. Loss, or Capital During this tax year, did the corporation p excess of the corporation's curren than stock dividends and distributions in exchange for stock) in art profits ? San actions 301 and 316 If "Yes," file Form 5452, Corporate Report of N istributions. See the instructions for Form 5452 If this is a consolidated return, answer here ration and on Form 851 for each subsidiary. At any time during the tax year, did one for vn, directly or indirectly, at least 25% of the total voting power of all classes of the corporation's stock entitled to vote or at least 25% of the total value of all classes of the corporation's stock? . . . . . . . X For rules of attribution, see section 318. If "Yes," enter: a) Percentage owned and (b) Owner's country (c) The corporation may have to file Form 5472, Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation Engaged in a U.S. Trade or Business. Enter the number of Forms 5472 attached 0 Screenshot saved Check this box if the cor If checked, the corporati Return for Publicly Offered Original Issue Discount Instruments. The screenshot was added to your 9 Enter the amount of tax-exempt interest received or ac rued during the tax year $ OneDrive. 10 11 Enter the number of shareholders at the end of the tax year (if 100 or fewer) > 1 o the carryback period, check here (see instructions) . OneDrive If the corporation has an NOL for the ta If the corporation is filing a consolidated return, the statement required by Regulations section 1. 1502-21(0)(3) must be allactred or the election will not be valid. 12 Enter the available NOL carr 1, line 29a.) . UYA Form 1120 (2019) Type here to search O M 9 X 3:24 PM 9/19/2020 ERIDE ABC.pdf X QBE ABC.pdf X ODE ABC.pdf X + X | File | C:/Users/jamiw/Desktop/ABC.pdf Not syncing . . . 8 of 11 - + 2 A' Read aloud | Draw V Highlight & Erase Form 1120 (2019) ABC Inc. Page 5 Schedule K Other Information (continued from page 4) 74-1111111 13 Are the corporation's total receipts (page 1, line 1a, plus lines 4 through 10) for the tax year a Yes No tax year less than $250,000? . . . X If "Yes," the corporation is not required to complete Schedules L, M-1, and M-2. Instead, enter the total amount of cash distributions and the book value of property distributions (other than cash) made during the tax year 14 Is the corporation required to file Schedule UTP (Form 1120), Uncertain Tax Position Statement? See instructions. . . . . . . . . . . If "Yes," complete and attach Sch edule UTP. X 15a any payments in 2019 that would require it to file Form(s) 1099? . If "Yes," did or will the corporation file required Form(s) 1099? . X 16 During this tax year, did the cor amption of its own stock? x 17 During or subsequent more than 65% (by value) of its assets in a taxat . . . . . 18 Did the corp a fair market basis or fair market value of more than $1 million 19 During the corporation's tax year, did the corporation m s 1042 and 1042-S under chapter 3 (section 1474) of the Code? . 20 Is the corporation operating on a cooperat asis? . 21 During the tax year, did the corporati wed under section 267A? See instructions If "Yes," enter the total amount of the disallowed deductions . $_ 22 Does the corporation have and (3)) ss receipts of at least $500 million in any of the 3 preceding tax years? (See sections 59A(e)(2) X X X X X If "Yes," complete and attach Form 8991. 23 Did the corporation have an election under section 163 () for any real property trade or business or any farming business in effect during the tax year? See instructions . 24 Does the corporation satisfy one or more of the following? See instructions . . . . . . X The corporation owns ough entity with current, or prior year carryover, excess business interest expense. The corporation's aggregate average an under section 448(c)) for the 3 tax years preceding the current tax year are more than $26 million and the corp ess interest expense. C The corporation is a tax shelter and the corporation has business interest expense. If "Yes," to any, complete and attach Form 8990. 25 Is the corporation attaching Form 8996 to certify as a Qualified Opportunity Fund? . . . . . . . . . . . . . . . . . . . . . . . . . If "Yes," enter amount from Form 8996, line 14 JYA Form 1120 (2019) Screenshot saved The screenshot was added to your OneDrive. OneDrive Type here to search 3:24 PM 9/19/2020 ERIDE ABC.pdf X QBE ABC.pdf X PRE ABC.pdf X + X | File | C:/Users/jamiw/Desktop/ABC.pdf Not syncing . . . 9 of 11 - + 2 | A Read aloud | Draw V Highlight & Erase Form 1120 (2019) ABC Inc. Schedule L Balance Sheets per Books Beginning of tax year 74-1111111 Page 6 End of tax year Assets Cash . . . . . . . . . . (d) Trade notes and accounts receivable . b Less allowance for bad debts Inventories . . . . . . . 4 U.S. government obligations . . Tax-exempt securities (see instruction 7 Other current assets (attach statement). . . . Loans to shareholders , Mortgage and real estate loans . Other investments (attach statement). 10a Buildings and other depreciable assets . b Less accumulated depreciation, 11a Depletable assets Less accumulated d Land (net of any amortization) 13a Intangible assets (amortizable only). Less accumulated amortization 15 Other assets (attach statement) . . Total assets . 16 Liabilities and Shareholders' Equity Accounts payable . .. 17 Mortgages, notes, bonds paya aille in less than 18 Other current liabilities (attach statement). 19 Loans from shareholders 20 Mortgages, notes, bonds payable in 1 year or more 21 Other liabilities (attach statement) 22 Capital stock: a Preferred stock . b Common stock, 24 23 Additional paid-in capital . . Retained eamings-Appropriated (att 25 Retained earnings-Unappropriated . . . . . . 26 Adjustments to shareholders' equity (attach statement) 430 ,000. 27 Less cost of treasury stock, Total abilities and shareholders' equity. Schedule M-1 Reconciliation of Income (Loss) per Books With Income per Return 430 ,000. Note: The corporation may be required to file Schedule M-3. See instructions. Net income (loss) per books . Federal income tax per books 430,000 . 7 Income recorded on books this year not 3 Excess of capital losses over capital gains . included on this return (itemize): 4 Tax-exempt interest $ Income subject to tax not recorded on books this year (itemize)_ Deductions on this return not charged 5 Expenses recorded on books this year not deducted on this return (itemize) against book income this year (itemize) Depreciation . . a Depreciation . b Charitable contributions $ Charitable contributions $ 11,000. Travel and entertainment $ Add lines 1 through 5 11,000. 9 Add lines 7 and 8 . 441 , 000 . 10 Income (page 1, line 28) - line 6 less line 9 Schedule M-2 Analysis of Unappropriated Retained Earnings per Books (Line 25, Schedule L) 441 ,000. Balance at beginning of year 430 , 000 5 Distributions: a Cash Net income (loss) per books b Stock Other increases (itemize) c Property . . Other decreases (itemize): Add lines 5 and 6 . . . . . . . . . UYA Add lines 1. 2, and 3. .. 430, 000. 8 Balance at end of year (line 4 less line ?) 430 ,000. Form 1120 (2019) 09/19/2020 03:05:11PM Type here to search M 9 X 3:24 PM 9/19/2020 EPDE ABC.pdf X QBE ABC.pdf X ODE ABC.pdf X + X | File | C:/Users/jamiw/Desktop/ABC.pdf Not syncing . . . 10 of 11 - + | A Read aloud | Draw V Highlight Erase Form 1 125-A Cost of Goods Sold wvember 2018) partment of the Treasury Attach to Form 1120, 1120-C, 1120-F, 11205, or 1065. OMB No. 1545-0123 Go to www.irs. gowForm1125A for the latest information mployer identification number ABC Inc. Inventory at beginning of year. 74-1111111 Purchases , Cost of labor 400 ,000 . Additional section 263A cost Other costs (attach schedule) Total. Add lines 1 through 5 , Inventory at end of year 400 , 000. Cost of goods sold. Subtract line 7 from line 6. Ent appropriate line of your tax return. See instructions. . Check all methods used for valuing closing inventory 400 ,000. Cost () [X] Lower of cost or market () Other (Specify method used and attach explanation.) b Check if there was a writedown of subnormal goods , Check if the LIFO inventory method was adopted this tax year for any goods (if checked, attach Form 970) . . . . . . . . . . . . . . If the LIFO inventory method was used for this tax year, enter amount of closing inventory computed under LIFO If property is produced or acquired for resale, do the rules of section 263A apply to the entity? See in Was there any change in determining quantities, cost, or valuations between opening and closing inventor? it "Y Yes X] No attach explanation . Yes X] No For Paperwork Reduction Act Notice, see instructions. Form 1125-A (Rev. 11-2018) Screenshot saved The screenshot was added to your OneDrive. OneDrive Type here to search 3:24 PM 9/19/2020 EPDE ABC.pdf X QBE ABC.pdf X PRE ABC.pdf X + X | File | C:/Users/jamiw/Desktop/ABC.pdf Not syncing . . . 10 of 11 - + | A Read aloud | Draw V Highlight Erase 1125-E (Rev. October 2016) Compensation of Officers Department of the Treasury Attach to Form 1120, 1120-C, 1120-F, 1120-REIT, 1120-RIC, or 11205. OMB No. 1545-0123 arnal Revenue Servic Name Information about Form 1125-E and its separate instructions is at www.irs.gow/form1125e on number ABC Inc. 74-1111111 Note: Complete Form 1125-E only if total receipts are $500,000 or more. See instructions for definition of total receipts. (a) Name of office (b) Social security number (see instructions) (c) Percent of Percent of stock owned business (d) Common (@) Preferred (f) Amount of compensation 1 John Doe 222-22-2222 100 . 00 % 100 .0 % 200 ,000. DO NOT 2 Total compensation of officers . 200 ,000 . Screenshot saved Compensation of officers claimed on Form 1125-A or elsewhere on return . C N The screenshot was added to your 4 Subtract line 3 from line 2. Enter the result here and on Form 1120, page 1, line 12 or the OneDrive. appropriate line of your tax return . For Paperwork Reduction Act Notice, see separate instructions. 200,000. Form 1 125-E (Rev. 10-2016) OneDrive 09/19/2020 03:05:11PM Type here to search O Ei M 9 X 3:24 PM 9/19/2020 E

Question

The assignment I'm working on is to complete form 1120 with the information below. I have filled in all parts except the $10,000 from the US Treasury Note. Where on Form 1120 does that amount go?

Facts in 2019:

ABC Inc. 123 Oak Dr Houston TX 77002.
EIN-74-1111111.
Date Incorporated 1/1/2000.
Total Assets $5,390,000 as of 12/31/2019.
ABC Inc.'s Net Income per books is $440,000.
Gross Receipts $1,000,000
Cost of Goods Sold $400,000 (assume no beginning and ending inventory and purchases were $400,000).
ABC Inc. uses the lower of cost or market method for valuing inventory and also uses the FIFO method for determining the cost of goods sold. Cash method of accounting is used for all other expenses other than inventory.
Business Activity Code is 448140 and business activity and product is retail trade of family clothing.
Compensation of $200,000 was paid to president and sole shareholder, John Doe, a U.S. citizen, SSN-222-22-2222.
Salaries and wages paid to employees were $50,000.
Office Rent paid for corporate headquarters was $20,000.
ABC Inc. contributed cash of $60,000 to the Salvation Army, a non-profit charitable organization.
Television advertising to promote the company products was $40,000
ABC Inc. elected to carry over $1,250 of 2019 overpayment credited to 2019.
ABC Inc. paid $25,000 each of 4 quarters for estimated tax payments in 2019
ABC Inc. owns 10% of Better Inc., EIN: 74-3333333, a domestic corporation, and received dividends in the amount of $100,000 in 2019
ABC Inc. owns 40% of Best Inc., EIN: 74-4444444, a domestic corporation, and received dividends in the amount of $100,000 in 2019.
ABC Inc. is a calendar year taxpayer and not affiliated with any other entity.
No dividends were declared or paid by ABC Inc.
No Forms 1099-Misc were required to be issued.
ABC Inc. received $10,000 from US Treasury Notes during 2019.
ABC Inc. has always shown a profit since inception.

RIDE ABC.pdf X RIDE ABC.pdf ABC.pdf ABC.pdf X + X | File | C:/Users/jamiw/Desktop/ABC.pdf Not syncing . . . 4 of 11 - + 2 | A Read aloud | Draw V Highlight & Erase Check if: (attach Form 851) Name B Employer iden Life nonlife consol.' dated return. . . . 0I TYPE ABC Inc. Number, street, and room or suite no. If a P.O. box, see instructions. 74-1111111 OR C Date incorporated Jattach Sch. PHi PRINT 123 Oak Dr. 01/01/2000 Personal service corp City or town, state or province, country, and ZIP or foreign postal code (see instructions). Total assets (see instructions) Houston, TX 77002 5, 390 , 000 . Schedule M-3 attached ECheck if: (1) Initial return (2) Final return (3) Name change (4) Address change 1a Gross receipts or sales b Returns and allowance . 1a 1,000,000. C Balance. Subtract line 1b from line la. 1,000, 000. 2 Cost of goods sold (attach Form 1125-A) . . 400 ,000. Income 3 600,000. 4 Dividends and inclusions edule C, line 23) 200 ,000 . Interest . 6 Gross rents . . 7 Gross royalties . 8 Capital gain net income (attach Schedule D (Form 1120)) . 9 Net gain or (loss) from Form 4797, Part II, lin 10 Other income (see instr 11 Total income. Add lines 3 through 10 12 Compensation of officers (see instructions NOT FIL 11 ans on deductions 13 12 800,000. 13 200,000. 14 Repairs and maintenance 15 Bad debts 14 50,000. 15 16 Rents, . . . . . . 16 17 Taxes and licenses 17 20,000. 18 Interest (see instructions) . . . . . 18 ns for limita 19 Charitable contributions . . . . . . ' 19 0 Depreciation from Form 4562 not claim 20 49,000. ch Form 4562) 21 Depletion , 21 22 Advertising . . . . . . . . . . . 22 40 ,000. 23 Pension, profit-sharing, etc., plans 23 24 Employee benefit programs 25 24 Reserved for future use . . 25 26 Other deductions (attach statement) 26 Deduction 27 Total deductions. Add lines 12 through 26 359,000. 28 Taxable income before net of ons. Subtract line 27 from line 11 . 441 ,000. 29a Net operating loss deduction (see instructions) 29a b Special deductions (Schedul e C, line 24) . 29b 115,000. c Add and 29b. 30 Taxable income. Subtract line 29c from line 28. See instructions 29c 326, 000 . 31 Total tax (Schedule J, Part 1, line 30 115,000. 31 68, 460 . ax, Refundable Cre and Payments 32 2019 net 965 tax liability paid 32 33 Total payments, c , and section 965 net tax liability (Schedule J, Part III, line 23) 33 101 , 250. 34 Estimated tax penalty. See instructions. Check if Form 2220 is attached. 35 34 Amount owed. If line 33 is am the total of lines 31, 32, and 34, enter 35 5 Overpayment. If line 33 is larger than the total of lines 31, 32, and 34, enter amount overpaid 36 37 Enter amount from line 36 you want: Credited to 2020 estimated tax 32 ,790. Under penalties of perjury, I declare that I have examined this return, including Refunded |37 32 , 790. Sign correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge. tatements, and to the beat of my nowledge and belief, it is true Horo May the IRS discuss this return with the preparer shown below? Signature of officer Date Title See Instructions. Yes X N Paid Print/Type preparer's name Preparer's signature Date Check it PTIN Preparer Eval Prep elf-employed Use Only Firm's name Firm's EIN Firm's address Phone no. For Paperwork Reduction Act Notice, see separate instructions. UYA Form 1120 (2010) Type here to search O 9 X 3:24 PM 9/19/2020 ERIDE ABC.pdf X QBE ABC.pdf X DDE ABC.pdf X + X | File | C:/Users/jamiw/Desktop/ABC.pdf Not syncing . . . 5 of 11 + 2 A' Read aloud | Draw Highlight & Erase Schedule C Dividends, Inclusions, and Special Deductions (see instructions) (a) Dividends and inclusions b) % (c) Special deductions (a) x (b) 1 Dividends from less-the inanced stock ). . . . . . . . 100,000 50 50,000. 2 Dividends from 20%-or- stock). 100,000. 65 65,000. Dividends on certain debt-finan corporations. 4 Dividends on certain preferred stock of less-than-20%-owned public utilities . 23.3 5 Dividends on certain preferred stock of 20%-or-m ed public utilities . . . 26.7 Dividends from less-than Certain FSCs 50 7 Dividends from 20%-or-more-owned foreign corporations and certain FSCs . . . . . . 65 8 Dividends from wholly owned foreign subsidiaries . 100 9 Subtotal. Add lines 1 through 8. See in structions for limitations . . . . . . . . . .. 0 Dividends from domestic corporations received by a small business investment 200,000. instruction 115,000. company operating under the Small Business Investment Act of 1958 11 Dividends from affiliated group members 13 2 Dividends from certain FSCs. . . . . . . . . NOT 100 100 100 Foreign-source portion of dividends received from a specified 10%-owned foreign corporation (excluding hybrid dividends) (see instructions) . . . 100 14 Dividends from foreign corporations not included on line 3, 6, 7, 8, 11, 12, or 13 (including any hybrid dividends) 15 Section 965(a) inclusion . a Subpart F inclusions derived from the sale by a controlled foreign corporation (CFC) of the stock of a lower-tier foreign corporation treated as a dividend (attach Form(s) 5471) (see instructions) 100 b Subpart F inclusions derived from hybrid dividends of tiered corporations (attach Form(s) 5471) (see instructions) . Other inclusions from CFCs under subpart F not included on line 15, 16a, 16b, or 17 (attach Form(s) 5471) (see instructions) 7 Global Intangible Low-Taxed Income (GILTI) (attach Form(s) 547 1 and Form 8992) . 18 Gross-up for foreign taxes deemed paid. . . 19 IC-DISC and former DISC dividends not included on line 1, 2, or 3 . Other dividends 21 Deduction for dividends paid on certain preferred stock of public utilities . . . 22 23 Section 250 deduction (attach Form 8993) . Total dividends and inclusions. Add column (a), lines 9 through 20. Enter here and on page 1, line 4 . . . 200 , 000 . 24 Total special deductions. Add column (c), lines 9 through 22. Enter here and on page 1, line 296 115,000. UYA Form 1120 (2019) Type here to search O EI X 3:24 PM 9/19/2020 EPDE ABC.pdf X QBE ABC.pdf X DDE ABC.pdf X + X | File | C:/Users/jamiw/Desktop/ABC.pdf Not syncing . . . 6 of 11 + 2 A' Read aloud | Draw Highlight Erase TOIn 1120 (2019) ABC Inc . Schedule J Tax Computation and Payment (see instructions) 74-1111III Page Part I-Tax Computation Check if the corporation is a member of olled group (attach Schedule O (Form 1120)). See instructions Income tax. See instructions . . . 68, 460. Base erosion minimum tax amount (atta Add lines 2 and 3 68 , 460. 5a Foreign tax credit (attach Form 1118) . Credit from Form 8834 (see instructions) . . 5a c General business credit (attach Form 3800), d Credit for prior year minimum tax (attach Form 8827), 5d e Bond credits from Form 8912. Se 6 Total credits. Add lines 5a through 5e 7 Subtract line 6 from line 4 . 68 , 460. 8 Personal holding company tax (attach Schedule PH (Form 1 120)). ga Recapture of investment credit (attach Form 4255). b Recapture of low-income housing credit (attach Form 8611) . 9a 9b Interest due under the look-back method-co long-term contracts (attach Form 8697) . d Interest due under the look-back me cast method (attach Form 8866) . . . . . Alternative tax on qualifying shipping activities (attach Form 8902) Other (see instructions attach statement) . Total. Add lines Sa through of. . . . 982 8 10 1 Total tax. Add lines 7. 8, and 10. Enter here and on page 1. line 31 10 11 68, 460 . Part II-Section 965 Payments (see instructions) 12 2019 net 965 tax liability paid from Form 965-B, Part II, column (k). line 3. Enter here and on page 1, line 32. 12 Part III-Payments, Refundable Credits, and Section 965 Net Tax Liability 3 2018 overpayment credited to 2019 . . . . . . . 13 1, 250. 14 2019 estimated tax payments, . 15 2019 refund applied for on Form 446 100 ,000. 16 Combine lines 13, 14, and 15 . 16 17 101 , 250 . 17 Tax deposited with Form 7004 , 18 Withholding (see instructions) 19 Total payments. Add lines 16, 17, and 18 . 19 101 , 250 . 20 Refundable credits from: Form 2430 b Form 4136 c Form 8827, line 5c d Other (attach statemer 21 Total credits. Add lines 20a through 20d. 22 2019 net 965 tax liability from Form 965-B, Part I, column (d), line 3. See instructions . . 22 Total payment, credits, and section 965 nett 5 net tax liability. Add lines 19, 21, and 22. Enter here and on page 1. line 33 . . 101, 250. JYA Form 1120 (2019) Screenshot saved The screenshot was added to your OneDrive. OneDrive Type here to search 3:24 PM 9/19/2020 ERIDE ABC.pdf X QBE ABC.pdf X ODE ABC.pdf X + X | File | C:/Users/jamiw/Desktop/ABC.pdf Not syncing . . . 7 of 11 - | A' Read aloud | Draw V Highlight & Erase Form 1120 (2019) ABC Inc . Schedule K Other Information (see instructions) 74-1111111 Page 4 Check accounting method: a X Cash b Accrual c Other (specify) Yes No See the instructions and enter the: Business activity code no. > 4 48140 b Business activity .retail trade c Product or service . family clothing Is the corporation a subsidiary in an affiliated group or a parent-subsidiary controlled group? . . X If "Yes," enter name and EIN of the parent corporation At the end of the tax year: a Did any foreign or domestic corporation, partnership (including any entity treated as a partnership), trust, or tax-exempt organization own directly 20% or more, or own, directly or indirectly, 50% or more of the total voting power of all classes of the corporation's stock enti b Did any individual or es rectly 20% or more, or own, directly or indirectly, 50% or more of the total voting power of all . . . . . . . . classes of the corporation hedule G (Form 1120) (attach Schedule G) . . . . . 5 a At the end of the tax year, did the corporation: Own directly 20% or more, or own, directly or indirectly, 50% or more of the total voting power of all classes of stock entitled to vote of any foreign or domestic corporation not included on Form 851, Affiliations Schedule? For rules of constructive ownership, see instr. "Yes," complete (0) through (iv) below. (1) Name of Corporation Identification Number ili) Country of (v) Percentage DO NOT (if any) b Own directly an interest of 20% or more, or own, directly or indirectly, an interest of 50% or more 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 (iv) below. (1) Name of Entity Iden mi climber (ill) Country of (iv) Maximum Organization Profit. Loss, or Capital During this tax year, did the corporation p excess of the corporation's curren than stock dividends and distributions in exchange for stock) in art profits ? San actions 301 and 316 If "Yes," file Form 5452, Corporate Report of N istributions. See the instructions for Form 5452 If this is a consolidated return, answer here ration and on Form 851 for each subsidiary. At any time during the tax year, did one for vn, directly or indirectly, at least 25% of the total voting power of all classes of the corporation's stock entitled to vote or at least 25% of the total value of all classes of the corporation's stock? . . . . . . . X For rules of attribution, see section 318. If "Yes," enter: a) Percentage owned and (b) Owner's country (c) The corporation may have to file Form 5472, Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation Engaged in a U.S. Trade or Business. Enter the number of Forms 5472 attached 0 Screenshot saved Check this box if the cor If checked, the corporati Return for Publicly Offered Original Issue Discount Instruments. The screenshot was added to your 9 Enter the amount of tax-exempt interest received or ac rued during the tax year $ OneDrive. 10 11 Enter the number of shareholders at the end of the tax year (if 100 or fewer) > 1 o the carryback period, check here (see instructions) . OneDrive If the corporation has an NOL for the ta If the corporation is filing a consolidated return, the statement required by Regulations section 1. 1502-21(0)(3) must be allactred or the election will not be valid. 12 Enter the available NOL carr 1, line 29a.) . UYA Form 1120 (2019) Type here to search O M 9 X 3:24 PM 9/19/2020 ERIDE ABC.pdf X QBE ABC.pdf X ODE ABC.pdf X + X | File | C:/Users/jamiw/Desktop/ABC.pdf Not syncing . . . 8 of 11 - + 2 A' Read aloud | Draw V Highlight & Erase Form 1120 (2019) ABC Inc. Page 5 Schedule K Other Information (continued from page 4) 74-1111111 13 Are the corporation's total receipts (page 1, line 1a, plus lines 4 through 10) for the tax year a Yes No tax year less than $250,000? . . . X If "Yes," the corporation is not required to complete Schedules L, M-1, and M-2. Instead, enter the total amount of cash distributions and the book value of property distributions (other than cash) made during the tax year 14 Is the corporation required to file Schedule UTP (Form 1120), Uncertain Tax Position Statement? See instructions. . . . . . . . . . . If "Yes," complete and attach Sch edule UTP. X 15a any payments in 2019 that would require it to file Form(s) 1099? . If "Yes," did or will the corporation file required Form(s) 1099? . X 16 During this tax year, did the cor amption of its own stock? x 17 During or subsequent more than 65% (by value) of its assets in a taxat . . . . . 18 Did the corp a fair market basis or fair market value of more than $1 million 19 During the corporation's tax year, did the corporation m s 1042 and 1042-S under chapter 3 (section 1474) of the Code? . 20 Is the corporation operating on a cooperat asis? . 21 During the tax year, did the corporati wed under section 267A? See instructions If "Yes," enter the total amount of the disallowed deductions . $_ 22 Does the corporation have and (3)) ss receipts of at least $500 million in any of the 3 preceding tax years? (See sections 59A(e)(2) X X X X X If "Yes," complete and attach Form 8991. 23 Did the corporation have an election under section 163 () for any real property trade or business or any farming business in effect during the tax year? See instructions . 24 Does the corporation satisfy one or more of the following? See instructions . . . . . . X The corporation owns ough entity with current, or prior year carryover, excess business interest expense. The corporation's aggregate average an under section 448(c)) for the 3 tax years preceding the current tax year are more than $26 million and the corp ess interest expense. C The corporation is a tax shelter and the corporation has business interest expense. If "Yes," to any, complete and attach Form 8990. 25 Is the corporation attaching Form 8996 to certify as a Qualified Opportunity Fund? . . . . . . . . . . . . . . . . . . . . . . . . . If "Yes," enter amount from Form 8996, line 14 JYA Form 1120 (2019) Screenshot saved The screenshot was added to your OneDrive. OneDrive Type here to search 3:24 PM 9/19/2020 ERIDE ABC.pdf X QBE ABC.pdf X PRE ABC.pdf X + X | File | C:/Users/jamiw/Desktop/ABC.pdf Not syncing . . . 9 of 11 - + 2 | A Read aloud | Draw V Highlight & Erase Form 1120 (2019) ABC Inc. Schedule L Balance Sheets per Books Beginning of tax year 74-1111111 Page 6 End of tax year Assets Cash . . . . . . . . . . (d) Trade notes and accounts receivable . b Less allowance for bad debts Inventories . . . . . . . 4 U.S. government obligations . . Tax-exempt securities (see instruction 7 Other current assets (attach statement). . . . Loans to shareholders , Mortgage and real estate loans . Other investments (attach statement). 10a Buildings and other depreciable assets . b Less accumulated depreciation, 11a Depletable assets Less accumulated d Land (net of any amortization) 13a Intangible assets (amortizable only). Less accumulated amortization 15 Other assets (attach statement) . . Total assets . 16 Liabilities and Shareholders' Equity Accounts payable . .. 17 Mortgages, notes, bonds paya aille in less than 18 Other current liabilities (attach statement). 19 Loans from shareholders 20 Mortgages, notes, bonds payable in 1 year or more 21 Other liabilities (attach statement) 22 Capital stock: a Preferred stock . b Common stock, 24 23 Additional paid-in capital . . Retained eamings-Appropriated (att 25 Retained earnings-Unappropriated . . . . . . 26 Adjustments to shareholders' equity (attach statement) 430 ,000. 27 Less cost of treasury stock, Total abilities and shareholders' equity. Schedule M-1 Reconciliation of Income (Loss) per Books With Income per Return 430 ,000. Note: The corporation may be required to file Schedule M-3. See instructions. Net income (loss) per books . Federal income tax per books 430,000 . 7 Income recorded on books this year not 3 Excess of capital losses over capital gains . included on this return (itemize): 4 Tax-exempt interest $ Income subject to tax not recorded on books this year (itemize)_ Deductions on this return not charged 5 Expenses recorded on books this year not deducted on this return (itemize) against book income this year (itemize) Depreciation . . a Depreciation . b Charitable contributions $ Charitable contributions $ 11,000. Travel and entertainment $ Add lines 1 through 5 11,000. 9 Add lines 7 and 8 . 441 , 000 . 10 Income (page 1, line 28) - line 6 less line 9 Schedule M-2 Analysis of Unappropriated Retained Earnings per Books (Line 25, Schedule L) 441 ,000. Balance at beginning of year 430 , 000 5 Distributions: a Cash Net income (loss) per books b Stock Other increases (itemize) c Property . . Other decreases (itemize): Add lines 5 and 6 . . . . . . . . . UYA Add lines 1. 2, and 3. .. 430, 000. 8 Balance at end of year (line 4 less line ?) 430 ,000. Form 1120 (2019) 09/19/2020 03:05:11PM Type here to search M 9 X 3:24 PM 9/19/2020 EPDE ABC.pdf X QBE ABC.pdf X ODE ABC.pdf X + X | File | C:/Users/jamiw/Desktop/ABC.pdf Not syncing . . . 10 of 11 - + | A Read aloud | Draw V Highlight Erase Form 1 125-A Cost of Goods Sold wvember 2018) partment of the Treasury Attach to Form 1120, 1120-C, 1120-F, 11205, or 1065. OMB No. 1545-0123 Go to www.irs. gowForm1125A for the latest information mployer identification number ABC Inc. Inventory at beginning of year. 74-1111111 Purchases , Cost of labor 400 ,000 . Additional section 263A cost Other costs (attach schedule) Total. Add lines 1 through 5 , Inventory at end of year 400 , 000. Cost of goods sold. Subtract line 7 from line 6. Ent appropriate line of your tax return. See instructions. . Check all methods used for valuing closing inventory 400 ,000. Cost () [X] Lower of cost or market () Other (Specify method used and attach explanation.) b Check if there was a writedown of subnormal goods , Check if the LIFO inventory method was adopted this tax year for any goods (if checked, attach Form 970) . . . . . . . . . . . . . . If the LIFO inventory method was used for this tax year, enter amount of closing inventory computed under LIFO If property is produced or acquired for resale, do the rules of section 263A apply to the entity? See in Was there any change in determining quantities, cost, or valuations between opening and closing inventor? it "Y Yes X] No attach explanation . Yes X] No For Paperwork Reduction Act Notice, see instructions. Form 1125-A (Rev. 11-2018) Screenshot saved The screenshot was added to your OneDrive. OneDrive Type here to search 3:24 PM 9/19/2020 EPDE ABC.pdf X QBE ABC.pdf X PRE ABC.pdf X + X | File | C:/Users/jamiw/Desktop/ABC.pdf Not syncing . . . 10 of 11 - + | A Read aloud | Draw V Highlight Erase 1125-E (Rev. October 2016) Compensation of Officers Department of the Treasury Attach to Form 1120, 1120-C, 1120-F, 1120-REIT, 1120-RIC, or 11205. OMB No. 1545-0123 arnal Revenue Servic Name Information about Form 1125-E and its separate instructions is at www.irs.gow/form1125e on number ABC Inc. 74-1111111 Note: Complete Form 1125-E only if total receipts are $500,000 or more. See instructions for definition of total receipts. (a) Name of office (b) Social security number (see instructions) (c) Percent of Percent of stock owned business (d) Common (@) Preferred (f) Amount of compensation 1 John Doe 222-22-2222 100 . 00 % 100 .0 % 200 ,000. DO NOT 2 Total compensation of officers . 200 ,000 . Screenshot saved Compensation of officers claimed on Form 1125-A or elsewhere on return . C N The screenshot was added to your 4 Subtract line 3 from line 2. Enter the result here and on Form 1120, page 1, line 12 or the OneDrive. appropriate line of your tax return . For Paperwork Reduction Act Notice, see separate instructions. 200,000. Form 1 125-E (Rev. 10-2016) OneDrive 09/19/2020 03:05:11PM Type here to search O Ei M 9 X 3:24 PM 9/19/2020 E

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The assignment I'm working on is to complete form 1120 with the information below. I have filled in all parts except the $10,000 from the

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