1120-IC-DISC Sales Corporation Return - IRS tax forms

1 Form1120-IC-DISC(Rev. December 2019)Department of the Treasury Internal Revenue Service Interest Charge domestic international Sales Corporation Return (Please type or print.) Go to for instructions and the latest No. 1545-0123 For calendar year 20, or tax year beginning, 20, and ending, , street, and room or suite no. (or box if mail is not delivered to street address)City or town, state, and ZIP codeA Date of IC-DISC electionB Business activity code no. (see instructions)C Employer identification numberD Date incorporatedE Total assets (see instructions)$ F Check applicable box(es): (1)Initial Return (2)Final Return (3)Name change(4)Address change(5)Amended returnG(1) Did any Corporation , individual, partnership, trust, or estate own, directly or indirectly, 50%-or-more of the IC-DISC s voting stock at the end of the IC-DISC s tax year?

2 See section 267(c) for rules of Yes, complete the following schedule. If a foreign owner, see numberAddressVoting stock ownedTotal assets (corporations only)Foreign owner YesNo%%(2) Enter the following for any Corporation listed in G(1) that will report the IC-DISC s income:Tax year of first corporationIRS Service Center where Return will be filedTax year of second corporationIRS Service Center where Return will be filedH(1) Check the appropriate box(es) to indicate any intercompany pricing rules that were applied to 25%-or-more of gross income (line 1 below): 50-50 combined taxable income method4% gross receipts methodSection 482 method ( arm s-length pricing )(2) Check here if the marginal costing rules under section 994(b)(2) were applied in figuring the combined taxable income for any Computations Must Reflect Intercompany Pricing Rules if Used (Section 994) See separate Schedule P ( form 1120-IC-DISC ).

3 Taxable Income1 Gross income. Enter amount from Schedule B, line 4, column (e) ..1 2 Cost of goods sold from Schedule A, line 8 ..2 3 Total income. Subtract line 2 from line 1 ..3 4 Deductions. Enter amount from Schedule E, line 3 ..4 5 Taxable income before net operating loss deduction and dividends-received deduction. Subtract line 4 from line 3 ..5 6 a Net operating loss deduction (attach statement) ..6a b Special deductions from Schedule C, line 21, column (c)..6bc Add lines 6a and 6b ..6c 7 Taxable income. Subtract line 6c from line 5 ..7 8 Refundable credit for federal tax paid on fuels (attach form 4136) ..8 Sign HereUnder 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.

4 Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge. Signature of officerDate TitlePaid Preparer Use OnlyPrint/Type preparer s namePreparer s signatureDateCheck if self-employedPTINFirm s name Firm s address Firm s EIN Phone Paperwork Reduction Act Notice, see separate No. 11473 PForm 1120-IC-DISC (Rev. 12-2019) form 1120-IC-DISC (Rev. 12-2019)Page 2 Schedule ACost of Goods Sold (see instructions)If the intercompany pricing rules of section 994 are used, reflect actual purchases from a related supplier at the transfer price determined under such rules. See separate Schedule P ( form 1120-IC-DISC ).

5 1 Inventory at beginning of the year ..1 2 Purchases ..2 3 Cost of labor ..3 4 Additional section 263A costs (attach statement) ..4 5 Other costs (attach statement) ..5 6 Total. Add lines 1 through 5 ..6 7 Inventory at end of the year ..7 8 Cost of goods sold. Subtract line 7 from line 6. Enter here and on line 2, page 1 ..8 9a Check all methods used for valuing closing inventory: (i) Cost (ii) Lower of cost or market(iii)Other (Specify method used and attach statement.) b Check if there was a writedown of subnormal c Check if the LIFO inventory method was adopted this tax year for any goods. If checked, attach form d If the LIFO inventory method was used for this tax year, enter amount of closing inventory computed under LIFO.

6 9de If property is produced or acquired for resale, do the rules of section 263A apply to the Corporation ? ..YesNof Was there any change in determining quantities, cost, or valuations between the opening and closing inventory? If Yes, attach statementYesNoSchedule BGross Income (see instructions)(a) Type of receiptsCommission Sales (d) Other receipts(e) Total (add columns (c) and (d)) (b) Gross receipts(c) Commission 1 Qualified export receipts from sale of export property aTo unrelated purchasers:(i) Direct foreign Sales ..(ii) Foreign Sales through a related foreign entity(iii) Persons in the United States (other than an unrelated IC-DISC) ..(iv)An unrelated IC-DISC.

7 BTo related purchasers:(i) Direct foreign Sales ..(ii) Persons in the United States ..cTotal ..2 Other qualified export receipts:aLeasing or renting of export property ..b Services related and subsidiary to a qualified export sale or lease ..cEngineering and architectural services ..dExport management services ..eQualified dividends and inclusions (Schedule C, line 19a) fInterest on producer s loans ..gOther interest (attach statement) ..hCapital gain net income. Attach Schedule D ( form 1120) iNet gain or (loss) from Part II, form 4797. Attach form 4797jOther (attach statement) ..kTotal ..3 Nonqualified gross receipts:aUltimate use in United States ..bExports subsidized by the Government.

8 C Certain direct or indirect Sales or leases for use by the Government ..dSales to other IC-DISCs in the same controlled group eNonqualified dividends and inclusions (Schedule C, line 20a)fOther (attach statement) ..gTotal ..4 Total. Add lines 1c, 2k, and 3g, column (e). Enter here and on line 1, page 1 .. form 1120-IC-DISC (Rev. 12-2019) form 1120-IC-DISC (Rev. 12-2019)Page 3 Schedule CDividends, Inclusions, and Special Deductions (see instructions)(a) Dividends and inclusions(b) %(c) Special deductions (a) (b)1 Dividends from less-than-20%-owned domestic corporations (other than debt-financed stock) ..502 Dividends from 20%-or-more-owned domestic corporations (other than debt-financed stock).

9 653 Dividends on certain debt-financed stock of domestic and foreign instructions4 Dividends on certain preferred stock of less-than-20%-owned public Dividends on certain preferred stock of 20%-or-more-owned public Dividends from less-than-20%-owned foreign corporations ..507 Dividends from 20%-or-more-owned foreign corporations ..658 Dividends from wholly owned foreign subsidiaries ..1009 Subtotal. Add lines 1 through 8. See instructions for limitation ..see instructions10 Foreign-source portion of dividends received from a specified 10%-owned foreign Corporation (excluding hybrid dividends) (see instructions) ..10011 Dividends from foreign corporations not included on line 3, 6, 7, 8, or 10 (including any hybrid dividends).

10 12 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) ..100b Subpart F inclusions derived from hybrid dividends of tiered corporations (attach form (s) 5471) (see instructions) ..c Other inclusions from CFCs under subpart F income not included on line 12a, 12b, 13, or 14 (attach form (s) 5471) ..13 Global Intangible Low-Taxed Income (GILTI) (attach form (s) 5471 and form 8992) 14 Section 965(a) inclusion ..see instructions15 IC-DISC and former DISC dividends not included on line 1, 2, or 3 ..16 Other dividends ..17 Section 250 deduction (attach form 8993).