Get Form 972 (rev. February 1998). Consent Of Shareholder To Include Specific Amount In Gross Income

Filling out Form 972 is an important step for shareholders who consent to report specific amounts as taxable dividends on their tax returns. This guide will provide you with clear, step-by-step instructions to complete the form efficiently and accurately online.

Follow the steps to fill out Form 972 online.

1. Click 'Get Form' button to obtain the form and open it in your online editor.
2. Enter the identifying number in the designated field. Individuals should provide their social security number, while other entities need to enter their employer identification number.
3. Fill in the name of the shareholder as it appears in official documents.
4. Provide the complete address, including street number, room or suite number, city, state, and ZIP code. If applicable, use a P.O. box instead of the street address.
5. In the section labeled 'The shareholder named above agrees to include $', specify the exact amount the shareholder agrees to include in their gross income for the specified tax year.
6. Indicate the appropriate dates by filling in the 'beginning' and 'ending' dates for the taxable year.
7. Enter the name of the corporation associated with the consent dividend, as well as their address in the provided fields.
8. Complete Schedule A by entering the last day of the corporation's tax year, the class of stock owned, the number of shares, and the amount of consent distribution allocable to each class.
9. Sign the form. The consenting shareholder must provide their signature, and if they represent a corporation or partnership, an authorized officer should sign.
10. Finally, review all information for accuracy. Once confirmed, save changes, download, print, or share the completed form as required.

Get started with completing your documents online today!