1120 E-file: Directions for Taxpayers Required to E-file

Any of these directions for corporations required to e-file can be used in the software.

Forms Allowed as PDF Attachments

The forms listed below can be included as PDF attachments.

Form	Description	1120
Form 1120S, Schedule B1	Information on Certain Shareholders of an S Corporation	X
Form 1128	Application to Adopt, or Retain a Tax Year	X
Form 2439 (a)	Notice to Shareholder of Undistributed Long-Term Capital Gains	X
Form 2553 (b)	Election by a Small Business Corporation	X
Form 3115 (c)	Application for Change in Accounting Method	X
Form 4466 (d)	Corporation Application for Quick Refund of Overpayment of Estimated Tax	X
Form 8283 (e)	Noncash Charitable Contributions	X
Form 8621 (a)	Return by a Shareholder of a Passive Foreign Investment Co. or Qualified Electing Fund	X
Form 8716 (d)	Election to Have a Tax Year Other Than a Required Tax Year	X
Form 8832 (c)	Entity Classification Election	X
Form 8838 (d)	Consent to Extend the Time to Assess Tax Under Sec 367 – Gain Recognition Agreement	X

(a) If filed with the return, required as XML. If received from a third party, allowed as PDF.

(b) PDF must be named and described as Form 2553.

(d) If filed without signature, required as XML. If filed with signature, allowed as PDF.

(e) Required as XML, unless filing 10 or more returns, or if 3rd party signature is required.

Mixed 1120 (Insurance) Returns

A Mixed Return, for e-file purposes, is an 1120 consolidated tax return (the parent return is an 1120) that includes at least one subsidiary that is either a Life Insurance company (Form 1120-L) or a Property and Casualty insurance company (Form 1120-PC).

For Mixed Returns, Form 1120-L and Form 1120-PC subsidiary returns must be included in the XML.

Schedule M-3 is required in XML for all levels in a Mixed Return. This includes the top consolidation, each entity (both parent and subsidiary), and the return subgroup(s) level. Additionally, a Form 8916 is required for all Mixed Returns. Form 8916-A, Supplemental Attachment to Schedule M-3, is required to be filed for each return (including subsidiary returns) for those entities that report any amounts for Cost of Goods Sold (COGS), Interest Income, or Interest Expense on their returns.

Information Available Upon Request – Transactional Detail Format

Transactional data for the following forms can be submitted on a summary form in XML format as defined below. Corporations using these optional procedures are agreeing that transactional data details will be made available on request.

Form	Description
Form T	Forest Activities Schedule
Schedule D	Capital Gains and Losses
Form 4562	Depreciation and Amortization
Form 4797	Sale of Business Property
Form 8824	Like-Kind Exchanges
Form 8873	Extraterritorial Income Exclusion

Summary format can be used when the underlying transactional data contains more than 100 lines for that particular data type. The summary totals must be reported by data type, classification, or other grouping as required on the form. If there are less than 100 instances of transactions by data type, classification, or other grouping, the transactions are required to be itemized.

Summary format cannot be used to net gain and loss transactions. If an entity chooses to use the summary format to report transactional data, gains and losses must be summarized and reported separately within each form part.

For example, if a corporation had 500 short-term gain transactional items and 2000 short-term loss transactional items, use of the Summary format requires the corporation to report two (2) separate totals on Schedule D, Part 1 or Form 4797 under Short-term Gains and Losses, one for the total of the short-term gain items and one for the total of the short-term loss items.

For example, if a corporation or partnership had 500 short-term gain transactional items and 2000 short-term loss transactional items, use of the Summary format requires the corporation or partnership to report two (2) separate totals on Schedule D, Part 1 or Form 4797 under Short-term Gains and Losses, one for the total of the short-term gain items and one for the total of the short-term loss items.

Compensation of Officers: Form 1120-E

Detailed information for each officer must be completed on Form 1120-E. Columns C through F are required, while Columns A and B are optional. If a consolidated return is filed, each member of an affiliated group must furnish this information.

Information Available on Request should not be used.

Schedule E Column	Optional	Required
(a) Name of Officer	X
(b) Social Security Number	X
(c) Percent of Time Devoted to Business		X
(d) Percent of Stock Owned - Common		X
(d) Percent of Stock Owned – Preferred		X
(f) Amount of Compensation		X

E-file/1120_ef_required.htm/TY2020

Last Modified: 03/20/2020

Last System Build: 09/13/2021