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Form 1120 - C Corporation Income Tax
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12 STUDENTS
5h 18m
Robert Bob
Robert Bob

This course is designed for those interested to learn the basics of using Form 1120 in filing C corporation income tax by putting together a systematic format of entering data and using M1 adjustments to isolate adjustments and review tax forms in worksheets.

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Course Skill Level
Beginner
Time Estimate
5h 18m

Instructor

Robert Bob
Robert Bob

Robert (Bob) Steele CPA, CGMA, M.S. Tax, CPI


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About This Course

Who this course is for:

  •  Tax professionals
  • Business owners considering a Partnership form of business entity
  • Tax and accounting students

What you’ll learn: 

  • How to enter tax data for an C Corporation into Form 1120
  • How to use tax software to input a Form 1120
  • How to use an Excel worksheet to support tax data input for a C Corporation tax return Form 1120
  • How to enter and track M-1 adjustments

Requirements: 

  • No prior knowledge is required to take this course

This course currently consists of a comprehensive problem showing the data input process of a C Corporation into tax Form 1120. It will put together a systematic format of entering data into a Form 1120 that will minimize errors, isolate problems as they happen, and remove the possibility of having to start the process all over again.

We will enter each M-1 adjustment individually into both the tax return and an Excel worksheet so that we fully understand how M-1 adjustments function. We will start by reviewing the data for the comprehensive problem. Then we will enter the data into an Excel worksheet that will be used to help us organize the information.

The course will demonstrate how to enter the data into the tax forms in stages to reduce potential mistakes and to identify mistakes as they happen so they can be fixed as easily as possible.

We will start the data input with the balance sheet. Then we will enter the income statement as it is formatted in the adjusted trial balance. Next, we will systematically go through the M-1 adjustments. We will isolate these adjustments, reviewing them on the tax forms, in the software, and using our Excel worksheet. We will then review the tax forms.

Our Promise to You

By the end of this course, you will have learned income tax input to Form 1120.

10 Day Money Back Guarantee. If you are unsatisfied for any reason, simply contact us and we’ll give you a full refund. No questions asked.

Get started today and learn more about using Form 1120 for C Corporation income tax.

Course Curriculum

Section 1 - Introduction
C Corporation Income Tax Introduction 00:00:00
Downloadable Materials – Form 1120 C-Corp Income Tax 00:00:00
Section 2 - Comprehensive Problem
Review Data 00:00:00
Excel Worksheet 00:00:00
Review Tax Return 00:00:00
Enter Beginning Balances 00:00:00
Depreciation 00:00:00
Balance Sheet 00:00:00
Income Statement 00:00:00
Retained Earning Reconciliation 00:00:00
Book Depreciation Adjusting Entry 00:00:00
M-1 Depreciation 00:00:00
M-1 Sale Of Equipment 00:00:00
M-1 Federal Income Tax 00:00:00
Depreciation Fix Error 00:00:00
M-1 Meals 00:00:00
M-1 Bad Debt 00:00:00
M-1 Tax Exempt Interest 00:00:00
Schedule C Dividends 00:00:00
Schedule D Capital Gain 00:00:00
Capital Loss Carryover 00:00:00
Officer Compensation 00:00:00
Interest Income Adjustment 00:00:00
Cost Of Goods Sold 00:00:00
Estimated Payments 00:00:00
Review And Diagnostics 00:00:00
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