Corporate Information

• In the first section, you provide corporate information, such as the corporate Employer Identification Number (EIN), the name and address of the company and the time period that the return relates to. You must also list the value of assets held by the corporation.
  
  

Income

• In the income section of Form 1120, you must include the total value of all sales and corporate receipts. You must also include the cost of the goods you sold in this section, plus any income not related to sales, such as dividend income, interest or rent.
  
  

Deductions

• In the deductions section, you must include all corporate payments that you can deduct as expenses of the corporation. These include payments made to officers of the company, salaries and wages, rents, bad debts, depreciation, employee benefit programs and charitable contributions.
  
  

Schedule A

• In Schedule A of Form 1120, you must list inventories of stock and assets held at the beginning and end of the year, and you must state the methods used to value your inventory.