You are working as a paid tax preparer for a Portland accounting firm. Your supervisor has asked you to prepare the 2021 Tax Return for ABC Corporation.
The information needed to complete the 2021 Tax Return can be found in TaxReturnProblem.docx
Deliverables
2021 Tax Return. You should upload one PDF or Word file (total of 8 pages) including:
Form 1120 (6 pages including Schedules C, J, K, L, M-1, and M-2)
Form 1125-A Cost of Goods Sold
Form 1125-E Compensation of Officers
Use Form 1120, U.S. Corporation Income Tax Return, to report the income, deductions and to figure the income tax liability of a corporation.
Form 1125-A
Use Form 1125-A to calculate and deduct cost of goods sold for certain entities.
Form 1125-E
Certain entities with total receipts of $500,000 or more use Form 1125-E to provide a detailed report of the deduction for compensation of officers.