DEDUCTIONS IMPORTANT-All applicable lines and schedules must be filled in. If the lines on the schedules are not sufficient, see instruction N. 1 Gross receipts or gross sales Less: Returns and allowances 1 9 Gains and losses (attach separate Schedule D (Form 1120S) and/or Form 4797): (a) Net short-term capital gain reduced by any net long-term capital loss. 9(a) (b) Net long-term capital gain reduced by any net short-term capital loss (if more than 9(b) 19 Contributions (not over 5% of line 28 adjusted per instructions-attach schedule). 20 Amortization (attach schedule). 19 20 33 TAX DUE (line 31 less line 32). See instruction G for depositary method of payment 34 OVERPAYMENT (line 32 less line 31). 33 TAX Under penalties of perjury, I declare that I have examined this return, including accompanying s les 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 win the preparer has any knowledge. Schedule G Depreciation (See instruction 21). Note: If depreciation is computed by using the Class Life (ADR) System or the Guideline Class Life Class Life (ADR) System and/or Guideline Class Life System. See Publication 534. 4 Enter line 3 or $25,000, whichever is lesser (Members of a controlled group, see instructions) Net long-term capital gain reduced by net short-term capital loss (from line 9(b), page 1) 11 Subtract $25,000. (Statutory minimum). 12 Balance (line 10 less line 11). (See instructions) 13 Enter 30% of line 12. (See instructions) 14 Income tax on capital gains (line 9 or line 13, whichever is lesser). Enter here and on line 29, page 1 77-169 O 76-20 25,000.00 Form 1120S (1975) Schedule K Computation of Undistributed Taxable Income and Summary of Distributions and Other Items Computation of Corporation's Undistributed Taxable Income Page 3 5. Percentage of 4 Actual dividend distributions taxable as ordinary income (Do not include amounts shown on line 6) 5 Actual dividend distributions taxable as long-term capital gains (after tax) .. 6 Actual dividend distributions taxable as ordinary income and qualifying for dividend exclusion 7 Nondividend distributions . . 8 Undistributed taxable income-taxable as ordinary income or (loss). 9 Undistributed taxable income-taxable as long-term capital gain (after tax) 11 Interest on investment indebtedness: (a) Investment interest expense (b) Net investment income or (loss). . (c) Excess expenses over rental income attributable to net lease property (d) Excess of net long-term capital gains over net short-term capital losses attributable to investment property. 12 Items of tax preference: (a) Accelerated depreciation on: (1) Low-income rental housing Additional Information Required (2) Other real property. . . (3) Personal property subject to a net lease (b) Amortization of: (1) Certified pollution control facilities (2) Railroad rolling stock . . (3) On-the-job training facilities (4) Child care facilities... (c) Reserves for losses on bad debts of financial institutions (d) Excess percentage depletion (e) Net long-term capital gain (after tax) F Did you at the end of the taxable year own, directly or Yes No C Form 1120S (1975) Page 4 Schedule K 1 Shareholder's Share of Undistributed Taxable Income, etc. (Complete a separate Schedule K-1 (Form 1120S) for each shareholder. See page 5 of instructions, and also back of Copy C. Schedule K-1 (Form 1120S) Schedules Balance Sheets 4 Gov't obligations: (a) U.S. and instrumentalities (b) State, subdivisions thereof, etc. 5 Other current assets (attach schedule) 6 Loans to shareholders 7 Mortgage and real estate loans 8 Other investments (attach schedule) 9 Buildings and other fixed depreciable assets (a) Less accumulated depreciation 10 Depletable assets. (a) Less accumulated depletion 11 Land (net of any amortization) 12 Intangible assets (amortizable only) (a) Less accumulated amortization 13 Other assets (attach schedule) Schedule M-1 Reconciliation of Income Per Books With Income Per Return Schedule M-2 Analysis of Unappropriated Retained Earnings Per Books (line 24 above) |