Can You Help Me Do a Schedule M-3 for a Corporation? I Found a Sample 1120 for a Corporation

can you help me do a schedule m-3 for a corporation? I found a sample 1120 for a corporation on here such as alvin's music Inc
TRP_3_c_corp_tax_return_Alvins_music_042710
I know this corporation does not need an M_# but I am taking a tax test for the IRS in two weeks and I need to know how to do the m-3 form
I corrected mistakes in their form 1120

1120
Form
Department of the Treasury
Internal Revenue Service
A Check if:
1a Consolidated return
(attach Form 851)
.
b Life/nonlife consolidated return .
.
.
2 Personal holding co.
(attach Sch. PH) .
.
U.S. Corporation Income Tax Return
For calendar year 2009 or tax year beginning
(see instructions) .
.
2009
, 20
See separate instructions.
B Employer identification number
Name
Use IRS
Alvin's Music Incorporated
label.
Number, street, and room or suite no. If a P.O. box, see instructions.
Otherwise,
355 Music Way
print or
City or town, state, and ZIP code
type.
3 Personal service corp.
4 Schedule M-3 attached
OMB No. 1545-0123
, 2009, ending
29-5748859
C Date incorporated
6/12/2006
D Total assets (see instructions)
$
East Palo Alto, CA 94303
E Check if: (1)
(3)
Final return
Address change
1c
3,380,000
Cost of goods sold (Schedule A, line 8) .
Gross profit. Subtract line 2 from line 1c .
Dividends (Schedule C, line 19)
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2
3
4
834,000
2,546,000
12,000
5
6
Interest
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Gross rents
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9,000
7
8
9
10
11
Gross royalties ......
Capital gain net income (attach Schedule D (Form 1120)) . . . .
Net gain or (loss) from Form 4797, Part II, line 17 (attach Form 4797)
Other income (see instructions—attach schedule) ......
Total income. Add lines 3 through 10 ......
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5
6
7
8
9
10
3,000
4,000
12
13
Compensation of officers (Schedule E, line 4)
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2,574,000
600,000
700,000
14
15
16
Salaries and wages (less employment credits)
Repairs and maintenance ......
Bad debts ......
Rents ......
11
12
13
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14
15
16
5,000
10,000
17
18
19
Taxes and licenses . .
Interest
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Charitable contributions .
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17
18
19
161,000
62,000
27,000
20
21
Depreciation from Form 4562 not claimed on Schedule A or elsewhere on return (attach Form 4562)
Depletion ......
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31,000
22
23
24
25
Advertising
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Pension, profit-sharing, etc., plans
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Employee benefit programs
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Domestic production activities deduction (attach Form 8903)
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20
21
22
23
24
25
40,000
26
27
28
Other deductions (attach schedule) . . .
Total deductions. Add lines 12 through 26 .
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75,500
1,755,500
818,500
29
Taxable income before net operating loss deduction and special deductions. Subtract line 27 from line 11 .
Less: a Net operating loss deduction (see instructions) ......
29a
b Special deductions (Schedule C, line 20) ......
8,400
29b
26
27
28
30
Taxable income. Subtract line 29c from line 28 (see instructions)
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29c
30
810,100
31
32a
b
Total tax (Schedule J, line 10) .
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31
274,434
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) d Bal
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32g
Refundable credits from Form 3800, line 19c, and Form 8827, line 8c . . .
Estimated tax penalty (see instructions). Check if Form 2220 is attached
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Amount owed. If line 32h is smaller than the total of lines 31 and 33, enter amount owed
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32h
33
34
280,000
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Overpayment. If line 32h is larger than the total of lines 31 and 33, enter amount overpaid .
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Refunded
35
36
5,566
5,566
Income
1a
2
3
4
Deductions (See instructions for limitations on deductions.)
b Less returns and allowances
5,550,000
(4)
Name change
Tax, Refundable Credits, and Payments
Gross receipts or sales
(2)
Initial return
c
e
f
g
33
34
35
36
Sign
Here
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3,420,000
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2008 overpayment credited to 2009
2009 estimated tax payments . .
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2009 refund applied for on Form 4466 .
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Tax deposited with Form 7004 .
Credits: (1) Form 2439
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32c (
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32a
32b
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c Bal
44,000
8,400
280,000
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(2) Form 4136
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Enter amount from line 35 you want: Credited to 2010 estimated tax
32d
32e
32f
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Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true,
correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
May the IRS discuss this return
with the preparer shown below
(see instructions)?
No
Yes
Signature of officer
Paid
Preparer’s
Use Only
.
.
40,000
Preparer’s
signature
Date
Title
Date
Firm’s name (or yours if
self-employed), address,
and ZIP code
For Privacy Act and Paperwork Reduction Act Notice, see separate instructions.
Check if selfemployed
Preparer’s SSN or PTIN
EIN
Phone no.
Cat. No. 11450Q
Form 1120 (2009)
Page 2
Form 1120 (2009)
Schedule A
Cost of Goods Sold (see instructions)
1
2
3
Inventory at beginning of year
Purchases ......
Cost of labor . . . . .
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1
2
3
4
5
6
Additional section 263A costs (attach schedule) .
Other costs (attach schedule) ......
Total. Add lines 1 through 5
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4
5
6
2,534,000
7
8
9a
Inventory at end of year ......
Cost of goods sold. Subtract line 7 from line 6. Enter here and on page 1, line 2 .
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7
8
1,700,000
834,000
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1,400,000
1,134,000
Check all methods used for valuing closing inventory:
(i)
Cost
(ii)
(iii)
Lower of cost or market
Other (Specify method used and attach explanation.)
b
c
Check if there was a writedown of subnormal goods
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Check if the LIFO inventory method was adopted this tax year for any goods (if checked, attach Form 970)
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d
If the LIFO inventory method was used for this tax year, enter percentage (or amounts) of closing
inventory computed under LIFO
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If property is produced or acquired for resale, do the rules of section 263A apply to the corporation? .
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e
f
Dividends and Special Deductions (see instructions)
(a) Dividends
received
1
Dividends from less-than-20%-owned domestic corporations (other than debt-financed
stock) ......
2
3
4
Dividends on certain preferred stock of 20%-or-more-owned public utilities .
Dividends from less-than-20%-owned foreign corporations and certain FSCs
Dividends from 20%-or-more-owned foreign corporations and certain FSCs
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Dividends from wholly owned foreign subsidiaries . . .
Total. Add lines 1 through 8. See instructions for limitation
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(b) %
Dividends from 20%-or-more-owned domestic corporations (other than debt-financed
stock) ......
Dividends on debt-financed stock of domestic and foreign corporations . . . . .
Dividends on certain preferred stock of less-than-20%-owned public utilities . . .
5
6
7
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Yes
No
Yes
No
(c) Special deductions
(a)
(b)
8,400
80
see
instructions
42
48
70
80
100
8,400
11
12
13
14
15
Dividends from foreign corporations not included on lines 3, 6, 7, 8, 11, or 12 . .
Income from controlled foreign corporations under subpart F (attach Form(s) 5471)
Foreign dividend gross-up ......
16
17
18
IC-DISC and former DISC dividends not included on lines 1, 2, or 3 ......
Other dividends ......
Deduction for dividends paid on certain preferred stock of public utilities
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Total dividends. Add lines 1 through 17. Enter here and on page 1, line 4 . . .
Total special deductions. Add lines 9, 10, 11, 12, and 18. Enter here and on page 1, line 29b .
Schedule E
.
.
70
12,000
Dividends from domestic corporations received by a small business investment
company operating under the Small Business Investment Act of 1958 . . . . .
Dividends from affiliated group members ......
Dividends from certain FSCs
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19
20
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9d
.
Was there any change in determining quantities, cost, or valuations between opening and closing inventory? If “Yes,”
attach explanation
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Schedule C
8
9
10
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100
100
100
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12,000
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8,400
Compensation of Officers (see instructions for page 1, line 12)
Note: Complete Schedule E only if total receipts (line 1a plus lines 4 through 10 on page 1) are $500,000 or more.
(a) Name of officer
(c) Percent of Percent of corporation stock owned
time devoted to
(d) Common (e) Preferred
business
(b) Social security number
1 Alvin Jones
Theona Smith
Gwen Givens
Carlson Bannister
100 %
100 %
100 %
100 %
%
123-45-6789
978-65-4321
789-12-3456
321-54-6789
(f) Amount of compensation
60 %
40 %
%
%
%
%
210,000
190,000
110,000
%
%
%
%
90,000
2
Total compensation of officers .
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3
4
Compensation of officers claimed on Schedule A and elsewhere on return .
Subtract line 3 from line 2. Enter the result here and on page 1, line 12 . .
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600,000
600,000
Form
1120
(2009)
Form 1120 (2009)
Schedule J
Page 3
Tax Computation (see instructions)
1
2
3
Check if the corporation is a member of a controlled group (attach Schedule O (Form 1120)) .
Income tax. Check if a qualified personal service corporation (see instructions) . . . . .
Alternative minimum tax (attach Form 4626) ......
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2
3
275,434
.
4
5a
b
Add lines 2 and 3 ......
Foreign tax credit (attach Form 1118) .
Credit from Form 8834, line 29 . . .
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4
275,434
275,434
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c
d
General business credit (attach Form 3800) . . .
Credit for prior year minimum tax (attach Form 8827)
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e
Bond credits from Form 8912 . . .