How to Fill Out Form 1120 for 2023. Step-by-Step Instructions for Rental Real Estate

Form 1120 is filed by U.S. domestic corporations. This example covers a scenario where a U.S. corporation purchases a rental real estate property. The corporation is owned 100% by a foreign corporation in the Cayman Islands, which requires an IRS Form 5472 attachment. The rental real estate activity creates a passive activity loss (PAL), which requires the IRS Form 8810 attachment.
For other Form 1120 & Form 5472 tutorials, see our playlists below.
Form 1120: • Form 1120 (Corporate T...
Form 5472: • Form 5472 Tutorials (N...
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DISCLAIMER: The information provided in this video may contain information about tax, financial, and legal topics. Such materials are for informational purposes only and may not reflect the most current developments. These informational materials are not intended and should not be taken as tax, financial, or legal advice. You should contact an advisor to discuss your specific facts and circumstances. Self-help services may not be permitted in all states or jurisdictions. The use of these materials does not create an attorney-client or confidential relationship. This video does not include information about every topic or issue related to these informational materials.
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[@brucecrawford4168]

Jason, bless you for doing these videos.

[@TewodrosWondimu]

Your videos are super helpful Jason.

[@magdelinrosario8098]

Thank you so much for your example! You were very clear. 👏🏻👏🏻👏🏻

[@JasonDKnott]

Glad it was helpful!

[@ridesharesean]

Your videos are very useful.

[@JasonDKnott]

Glad you like them!

[@Bojerthe]

Appreciate Jason u da man. Edit: I like the new thumbnail for the videos in green red and black instead of vanilla. Keep it up man, you have no clue how much this helps.

[@sudhakarkundam4539]

Awesome your explanation 😊

[@bobastinky3285]

Would you be able to do a video for homeowner association if they don't meet the 1120-H requirements?

[@riyaziaf]

Hi Jason, I really like your videos. Your videos are literally practical. It would be a great help if you can also make a videos on Form 8890 - Limitation on Business Interest Expense Under Section 163(j) from perspective of Investment partnership. There is not any good video on KZbin on this topic. Regards

[@adnanalghail689]

Hi @Jason D. Knott, I just register my company 12/26/2024, it will actively start working beginning of Jan 2025. Do I still need to file form for 1120 for the year 2024. Thanks.

[@Goddess8888-Winner]

Hi Jason, would you please an 1120 form for an agency that does staffing? Thank you!!!

[@zmantheman]

@JasonDKnott By answering yes to question 29 (c) on schedule K, I think you’re telling the IRS the corporation is an applicable corporation under the safe harbor method.

[@JohnBarnett-fp6og]

huntr52 Jason, have small Tx corp w/little to no income for '23 and no real exp (

[@welooop_com]

Hi, Jason Thank you so much for your video. Just a quick question: I have a company with no income, and just some expenses (first year): Line 11, Total income => 0 Line 27, Total deductions => (8000) so Line 30 Taxable income: (8000)?? Line 31, Total tax: 0 or (8000)*21%=(1680)?? the instruction says (1680), but my gut feeling says 0. Also how to fill the schedule J accordingly? Line 15 & 28 should be all 0? Can you please clarify? Thank you!!