Get the free 2002 Form 1120IC-DISC (Schedule K). Shareholder's Statement of IC-DISC Distributions

SCHEDULE K (Form 1120ICDISC) Department of the Treasury Internal Revenue Service Part I 1 2 3 Shareholders Statement of ICD ISC Distributions2002 OMB No. 15450938 For calendar year 2002 or tax year

How to fill out 2002 form 1120ic-disc schedule

How to fill out 2002 form 1120ic-disc schedule

1. Gather all necessary information and documents required to fill out the form, including financial statements, tax returns, and supporting documentation.
2. Download and print a copy of the 2002 form 1120ic-disc schedule from the official IRS website or obtain a physical copy from the nearest IRS office.
3. Read the instructions provided with the form carefully to understand the requirements and guidelines for filling it out.
4. Start by entering your company's name, address, and employer identification number (EIN) in the designated fields on the form.
5. Provide the necessary information regarding your company's IC-DISC (Interest Charge Domestic International Sales Corporation) activities, including the applicable tax year and the date the IC-DISC was incorporated.
6. Fill out the Schedule A section to report the names and addresses of all shareholders of the IC-DISC, along with the number of shares each shareholder holds.
7. Complete Schedule B to provide details about the services performed by the IC-DISC and the income generated from those services.
8. If there are any distributions of previously taxed income, such as dividends, report them in Schedule C.
9. Include any additional information or attachments required by the form, such as supporting schedules or statements.
10. Double-check all the entries for accuracy and make sure you have signed and dated the form before submitting it to the IRS.
11. Keep a copy of the completed form and all supporting documentation for your records.

Who needs 2002 form 1120ic-disc schedule?

1. Companies that qualify as IC-DISCs (Interest Charge Domestic International Sales Corporations) need to file the 2002 form 1120ic-disc schedule.
2. IC-DISCs are typically formed by U.S. exporters who engage in qualified export activities, aiming to reduce their overall tax liability.
3. The schedule is necessary for IC-DISCs to report their shareholder information, income from export-related activities, and any distributions of previously taxed income.
4. It is important for companies to consult with a tax professional or refer to the IRS guidelines to determine their eligibility and filing requirements for the 2002 form 1120ic-disc schedule.

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What is form 1120ic-disc schedule k?

Form 1120IC-DISC Schedule K is a schedule used to report income and other financial information related to an Interest Charge Domestic International Sales Corporation (IC-DISC) on Form 1120.

Who is required to file form 1120ic-disc schedule k?

Any corporation that qualifies as an Interest Charge Domestic International Sales Corporation (IC-DISC) is required to file Form 1120IC-DISC Schedule K.

How to fill out form 1120ic-disc schedule k?

Form 1120IC-DISC Schedule K must be completed by providing detailed information on the IC-DISC's income, expenses, and other financial data in accordance with the IRS instructions.

What is the purpose of form 1120ic-disc schedule k?

The purpose of Form 1120IC-DISC Schedule K is to report the financial activities of an IC-DISC and calculate the taxable income of the corporation.

What information must be reported on form 1120ic-disc schedule k?

Form 1120IC-DISC Schedule K requires the reporting of income, expenses, deductions, credits, and other financial information of an IC-DISC.