Get 2012 Form 1120-ic-disc (schedule K) - Internal Revenue Service - Irs

Filling out the 2012 Form 1120-IC-DISC (Schedule K) is essential for reporting actual or deemed distributions from International Sales Corporations. This guide provides a clear, step-by-step approach to help users navigate the form efficiently and accurately online.

Follow the steps to complete the form online successfully.

1. Click ‘Get Form’ button to obtain the form and open it in the editor.
2. Begin with Part I, where you need to report taxable distributions. Enter the deemed distributions under section 995(b)(1) on line 1a and the annual installment under section 995(b)(2) on line 1b. Total these amounts on line 1c.
3. Next, input the actual taxable distributions received during the tax year on line 2.
4. In Section A for C Corporations, specify the part of line 3 entitled to the section 243 dividends-received deduction on line 4a and the part that is not eligible on line 4b.
5. For all other distributions, denote the actual distributions from previously taxed income and accumulated pre-1985 DISC income on line 5.
6. Continue to Part II, which covers nontaxable distributions. Report any amounts on line 6 that represent distributions from previously taxed income.
7. Indicate other nontaxable distributions you may have received on line 7.
8. Then, proceed to Part III where you will enter any accumulated IC-DISC income pertinent to stock sold during the year, along with any deferred DISC income as described in the instructions.
9. Verify all entries and ensure the information provided is accurate and complete.
10. Finally, save your changes, and use the available options to download, print, or share the completed form as necessary.

Complete your documents online today and ensure your compliance with the IRS guidelines.