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Printable Form 1120 (Schedule G) High Point North Carolina: What You Should Know
Line 40b. The Form 1120 must be filed with the Internal Revenue Service (IRS) and the information must be available on IRS.gov, with each annual reporting cycle that a federal tax year has ended. Enter the amount of federal taxable income not included on Schedule G and the gross income from all other sources listed on page 2, Line 9, excluding items subject to a loss. The amount of federal taxable income included is the amount of federal taxable income for the tax year, plus any federal tax deduction allowed. A Form 1120 not filed by the owner of the corporation's stock must be filed with the Director of the IRS as soon as practicable (e.g., at the close of business on the last day of the year).
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