Form 1120 (2013) Tax Year–Specific Checklist
Why 2013 Form 1120 Is Unique
The 2013 Form 1120 includes one unique election: the Typhoon Haiyan Relief Contribution deduction, which permits corporations to deduct specific charitable contributions made between March 25, 2014, and April 15, 2014, on the 2013 tax return instead of the 2014 tax return. Additionally, the Domestic Production Activities Deduction (Form 8903) remains available through 2017, and corporations with assets exceeding $10 million are required to file Schedule M-3 instead of Schedule M-1. Net operating loss deductions and dividend-received deductions, as reported on Schedule C, remain core features of 2013 corporate taxation.
Year-Specific Programs Applying to 2013
The Typhoon Haiyan Relief Contribution election (added via a law enacted after the 2013 forms were printed) allows taxpayers to deduct contributions made between March 25, 2014, and April 15, 2014, for Philippine relief on the 2013 return, treating them as if made on December 31, 2013. The Domestic Production Activities Deduction, as outlined in Form 8903, remains in effect through 2013, allowing corporations to deduct up to 9% of qualifying domestic production income, subject to limitations on employee wages.
Ten-Step Compliance Checklist for 2013 Form 1120
Step 1: Gather Core Business Documents
Collect EIN confirmation letter, Articles of Incorporation, prior-year 1120, W-2s for all employees (line 13 reporting), 1099 forms for nonemployee compensation, and Schedule K-1s from any pass-through entities. The 2013 instructions require all financial details to support lines 1–11 (the income section) and lines 12–26 (the deductions section).
Step 2: Verify Calendar Year and Tax Period
Confirm the corporation uses a calendar year ending December 31, 2013, or a fiscal year ending in 2013. If the short-period return (for a new corporation or dissolution) is due, file it by the 15th day of the third month after the short period ends. 2013. The instructions specify that the filing deadline applies to all corporations filing Form 1120, unless exempt under Section 501.
Step 3: Calculate Gross Income (Lines 1–11)
Report gross receipts (line 1a), subtract returns and allowances (line 1b), attach Form 1125-A if claiming cost of goods sold (line 2), report dividends from Schedule C line 19 (line 4), and add interest (line 5), rents (line 6), royalties (line 7), capital gain (line 8), and other income (line 10). Total must equal line 11 before deductions. The 2013 instructions mandate Form 1125-A for all entities reporting COGS deductions.
Step 4: Claim Permitted Deductions (Lines 12–26)
Report officer compensation (line 12), salaries and wages less employment credits (line 13), repairs (line 14), bad debts (line 15), rents (line 16), taxes and licenses (line 17), interest (line 18), charitable contributions not exceeding 10% of taxable income (line 19), depreciation from Form 4562 (line 20), and attach Form 8903 if claiming domestic production activities deduction (line 25). Line 26 captures other deductions as outlined in the attached statement. Sum lines 12–26 into line 27.
Step 5: Apply Deductions and NOL (Lines 27–30)
Subtract total deductions (line 27) from total income (line 11) to yield taxable income before NOL and special deductions (line 28). Enter any NOL deduction from prior years (line 29a), add special deductions from Schedule C line 20 (line 29b), and subtract the sum of 29a and 29b from line 28 to arrive at taxable income (line 30). The 2013 instructions prohibit NOL carrybacks for certain entities; confirm eligibility before claiming line 29a.
Step 6: Complete Required Schedules
Schedule C (Dividends and Special Deductions) must be attached to every Form 1120, even if the corporation received no dividends (all lines may be blank). Attach Schedule D (Capital Gains and Losses) if any asset sales occurred; Schedule L (Balance Sheet) per books; Schedule M-1 (Reconciliation of Income) if assets are under $10 million, or Schedule M-3 if assets equal or exceed $10 million; and Schedule J (Tax Computation and Payment). The 2013 instructions require that all applicable schedules be attached in a specific numerical order after page 5.
Step 7: Compute Tax and Credits (Schedule J)
Transfer taxable income (line 30) to Schedule J Part I to compute income tax (line 2 per tax rate schedule, or line 3 if a qualified personal service corporation subject to flat 35% rate). Claim eligible business credits (lines 5a–5e) and other credits (lines 19a–19d). Transfer total tax from Schedule J line 11 to Form 1120 page 1 line 31. The 2013 instructions provide separate tax rate schedules; qualified personal service corporations face a flat 35% rate.
Step 8: Report Estimated Tax Payments and Refundable Credits (Schedule J, Part II)
Enter 2012 overpayment credited to 2013 (line 12), 2013 estimated tax payments (line 13), and credit for federal tax paid on fuels if applicable via Form 4136 (line 19b). Sum these into Schedule J Part II line 21 (Total Payments and Credits), then transfer to Form 1120 page 1 line 32. Corporations must make installment payments if the expected tax is $500 or more; installments are due on the 15th day of the 4th, 6th, 9th, and 12th months.
Step 9: Answer All Information Questions (Schedule K)
Confirm the accounting method (cash, accrual, or other) on line 1; provide the business activity code on line 2; answer all yes/no questions (lines 3–16) regarding subsidiary status, foreign ownership, dividend payments, NOL election, and 1099 filing. If claiming uncertain tax positions with assets greater than or equal to $100 million (for 2013), complete and attach Schedule UTP. The 2013 instructions require complete answers to all applicable Schedule K items; blank or “see attached” entries are not permitted.
Step 10: Sign, Date, and File
An officer (president, vice president, treasurer, assistant treasurer, chief accounting officer, or authorized corporate officer) must sign and date Form 1120 on page 1. If a paid preparer was used, the preparer must sign, date, include their PTIN, and complete the preparer section. Assemble all schedules and supporting statements in the order specified by the 2013 instructions. File by the 15th day of the 3rd month after the end of the tax year (generally April 15 for calendar year 2013). See the IRS Where to File page for Form 1120 (2013) for the correct mailing address based on principal business location and total year-end assets.
Schedule and Line Changes for 2013
Schedule M-3 Threshold Clarification: The 2013 instructions clarified that corporations with total assets of $10 million or more (measured on Schedule L, column (d)) must complete Schedule M-3 (Form 1120) for Net Income (Loss) Reconciliation instead of Schedule M-1. Previously, the threshold required careful calculation of consolidated assets. The 2013 Form 1120 streamlined this by explicitly stating the $10 million measurement point, reducing ambiguity.
Form 8903 Line 25 Integration: The Domestic Production Activities Deduction remains on line 25 of Form 1120 for 2013. This deduction allows corporations to deduct up to 9% of qualified domestic production income, subject to wage and taxable income limitations. The 2013 instructions state that this deduction is directly applied to line 25 and is not limited by the 10% charitable contribution cap or other deduction limitations.
Need Help With Your Tax Filing?
If you’re missing tax documents or want to ensure the numbers you enter match IRS records, we can help.
We offer:
- Full IRS transcript retrieval (Wage & Income + Account)
- Professional tax form review
- Preparation & filing support
- Tax relief options if you owe the IRS
Call now before filing: (888) 260-9441
Fast transcript pull available
This checklist is for educational purposes only and does not constitute tax or legal advice. Always review official IRS instructions and consult a qualified professional for guidance.
