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2020 IA 1120S
Iowa Income Tax Return for S Corporation
tax.iowa.gov
For Calendar Year 2020 or other fiscal year (MMDDYY): ___________________ to ____________________
Check all that apply: Name/Address Change ☐ Short Period ☐ Amended Return (Include IA 102) ☐
Part I: Corporation Name and Address
Name: ______________________________________________ Federal Employer Identification Number (FEIN): __________________
Street address: _______________________________________ Business code: ____________________________________________
___________________________________________________ Total number of shareholders:
City: ___________________ State: _______ ZIP: ___________ Number of Iowa shareholders: ________________________________
County number: ______________________________________ Is this a first or final return? If yes, check the appropriate box.
State S Corporation Representative: ______________________ First Return New Business ☐ Successor ☐ Entering Iowa ☐
Phone number: _______________________________________ Final Return Reorganized ......... ☐ Merged .......... ☐
Dissolved .............. ☐ Withdrawn ...... ☐
Bankruptcy ........... ☐ Other .............. ☐___________
Part II: Corporation Information
Type of Return: S Corporation ☐ Interest Charge Domestic International Sales Corporation ☐ Foreign Sales Corporation ☐
Is this an inactive corporation? ............................................................................... Yes ☐ No ☐
Was federal income or tax changed for any prior period(s)? .................................. Yes ☐ No ☐ Tax Period(s): _________________________
Is the corporation’s business carried on entirely within Iowa? ................................ Yes ☐ No ☐
Date of S corporation election (MM/DD/YYYY): ________________________________
Part III: Modification of Corporation Income Enter Whole Dollars
1. Net income per federal form 1120S Schedule K. (See instructions). ...................................................................... 1. __________________
2. Interest and dividends exempt from federal income tax. (See instructions) ..................2. __________________
3. Other additions. Include schedule ................................................................................3. __________________
4. Total additions. Add lines 2 and 3 ........................................................................................................................... 4. __________________
5. 50% of federal income tax ............................................................................................5. __________________
6. Interest and dividends from federal securities. (See instructions) .................................6. __________________
7. Other reductions. Include schedule ..............................................................................7. __________________
8. Total reductions. Add lines 5, 6, and 7 ................................................................................................................... 8. __________________
9. Net modifications. Subtract line 8 from line 4 .......................................................................................................... 9. __________________
10. Modified federal net income. Add line 1 and line 9 ................................................................................................ 10. __________________
11. Tax on built-in gains, passive investment income, or tax resulting from an audit. (See instructions). .................... 11. __________________
Amount owed: Make check payable to Iowa Department of Revenue. Submit with either form IA 1120V or IA103 as appropriate.
Part IV: Business Activity Ratio (BAR) See instructions. Enter Whole Dollars
Types of Income Column A-Iowa Receipts Column B-Receipts Everywhere
1. Gross receipts ............................................................
2. Net dividends. (See instructions) .................................
3. Exempt interest ...........................................................
4. Accounts receivable interest .......................................
5. Other interest ..............................................................
6. Rent ...........................................................................
7. Royalties ....................................................................
8. Capital gain/(loss) .......................................................
9. Ordinary gains/(loss) ...................................................
10. Partnership gross receipts. Include schedule ..............
11. Other. Include schedule ..............................................
12. TOTALS. Add lines 1 through 11 ..............................12. _______________________________ _______________________________
13. BAR to six decimal places. Divide line 12, column A, by line 12, column B ................................ 13. _____________________________ %
Part V: Information from Prior Period Iowa Return
Corporation name: ___________________________________ Net Income/(Loss): $ ____________________ FEIN: ____________________
File electronically. A complete copy of your federal return must be filed with this return, not including federal K-1s.
I, the undersigned, declare under penalties of perjury or false certificate, that I have examined this return, and, to the best of my knowledge and
belief, it is true, correct, and complete.
Officer’s signature: ________________________________________ Title: __________________________________ Date: _____________
Preparer’s signature: ______________________________________ Preparer PTIN: __________________________ Date: _____________
Preparer’s address: __________________________________________________________________________________________________
Mail to: Corporation Return Processing, Iowa Department of Revenue, PO Box 10468, Des Moines IA 50306-0468
42-004 (09/29/2020)