2020 Form 1120-C U.S. Income Tax Return for Cooperative Associations

Department of the Treasury, Internal Revenue Service

For calendar year 2020 or tax year beginning , 2020, ending , 20

Go to www.irs.gov/Form1120C for instructions and the latest information. OMB No. 1545-0123

Name:

Number, street, and room or suite no.:

City, state/province, country, and ZIP or foreign postal code:

Employer identification number:

A. Check if:

Consolidated return (attach Form 851)

Schedule M-3 (Form 1120) attached

Form 1120 filed in previous tax year

C. Check if:

Farmers’ tax exempt cooperative

Nonexempt cooperative

D. Check if:

Initial return

Final return

Name change

Address change

Amended return

Income

1a Gross receipts or sales: b Less returns and allowances: c Bal:

2 Cost of goods sold:

3 Gross profit:

4 Dividends and inclusions:

5 Interest:

6 Gross rents and royalties:

7 Capital gain net income:

8 Net gain or loss from Form 4797, Part II, line 17:

9 Other income:

10 Total income:

Deductions

11 Compensation of officers:

12 Salaries and wages:

13 Bad debts:

14 Rents:

15 Taxes and licenses:

16 Interest:

17 Charitable contributions:

18 Depreciation:

19 Advertising:

20 Pension, profit-sharing, etc., plans:

21 Employee benefit programs:

22 Section 199A(g) deduction:

23 Other deductions:

24 Total deductions:

Tax Computation and Payments

27 Taxable income:

28 Total tax:

29 2020 net 965 tax liability paid:

30a 2019 overpayment credited to 2020:

30b 2020 estimated tax payments:

30c 2020 refund applied for on Form 4466:

30e Tax deposited with Form 7004:

30f Credits (Form 2439 / Form 4136):

30g Reserved for future use:

30h Section 1383 adjustment:

30i 2020 net 965 tax liability from Form 965-B:

31 Estimated tax penalty:

32 Amount owed:

33 Overpayment:

34 Amount of line 33 you want credited/refunded:

Schedule C - Dividends, Inclusions, and Special Deductions

23 Total dividends and inclusions:

24 Total special deductions:

Schedule G - Allocation of Patronage and Nonpatronage Income and Deductions

1 Gross receipts or sales:

2 Cost of goods sold:

3 Gross profit:

4 Other income:

5 Total income:

6a Section 199A(g) deduction:

6b Other deductions:

6c Total deductions:

7 Taxable income before section 1382, NOL, and special deductions:

8 Deductions and adjustments under section 1382:

9a Net operating loss deduction:

9b Special deductions:

10 Taxable income:

11 Combined taxable income:

12 Unused patronage loss:

13 Unused nonpatronage loss:

Schedule H - Deductions and Adjustments Under Section 1382

1 Dividends paid on capital stock:

2 Nonpatronage income allocated to patrons:

3a Money:

3b Qualified written notices of allocation:

3c Other property:

3d Money or other property in redemption of nonqualified written notices:

4 Section 199A(g) deduction allocated to patrons:

5 Total:

Schedule J - Tax Computation

Check if the cooperative is a member of a controlled group (attach Schedule O)

2 Income tax:

3 Base erosion minimum tax amount:

4 Add lines 2 and 3:

5a Foreign tax credit:

5b Credit from Form 8834:

5c General business credit:

5d Credit for prior year minimum tax:

5e Bond credits from Form 8912:

6 Total credits:

7 Subtract line 6 from line 4:

8 Other taxes:

9 Total tax:

Schedule K - Other Information

1 Accounting method: Cash Accrual Other

2a Business activity code no.:

2b Business activity:

2c Product or service:

2d Date of incorporation:

3 Method used to compute distributable patronage: Book Tax Other

4 Own 50% or more of voting stock of domestic corporation? Yes No

5 Is cooperative a subsidiary in an affiliated group or parent-subsidiary controlled group?

6 50% ownership by individual/partnership/corporation/estate/trust?

7 Total assets:

8 Foreign ownership 25% or more? Yes No

8a Percentage owned:

8b Owner’s country:

8c Number of Forms 5472 attached:

9 Publicly offered debt instruments with original issue discount? Yes No

10 Tax-exempt income received or accrued:

11a Number of foreign patrons:

11b Total amount of patronage distributions to foreign patrons:

12 NOL election to forego carryback period: Check here

13 Available NOL carryover - Patronage: Nonpatronage:

14 Total receipts and total assets less than $250,000? Yes No

14 Cash distributions and property distributions total:

15 Outstanding nonqualified notices of allocation:

16 Gross receipts at least $500 million in any of previous 3 tax years? Yes No

17 Election under section 163(j) for real property trade/business or farming business? Yes No

18 Business interest expense conditions met? Yes No

Schedule L - Balance Sheets per Books

1 Cash:

2a Trade notes and accounts receivable:

2b Less allowance for bad debts:

3 Inventories:

4 Other current assets:

5 Investments:

6 Loans to shareholders:

7 Mortgage and real estate loans:

8a Buildings and other depreciable assets:

8b Less accumulated depreciation:

9a Depletable assets:

9b Less accumulated depletion:

10 Land:

11a Intangible assets:

11b Less accumulated amortization:

12 Other assets:

13 Total assets:

Liabilities and Capital

14 Accounts payable:

15 Mortgages, notes, bonds payable in less than 1 year:

16 Other current liabilities:

17 Loans from shareholders:

18 Mortgages, notes, bonds payable in 1 year or more:

19 Other liabilities:

20a Preferred stock:

20b Common stock:

21 Additional paid-in capital:

22 Patronage dividends allocated in noncash form:

23 Per-unit retains allocated in noncash form:

24 Retained earnings—Appropriated:

25 Retained earnings—Unappropriated:

26 Adjustments to shareholders’ equity:

27 Less cost of treasury stock:

28 Total liabilities and capital:

Schedule M-1 - Reconciliation of Income (Loss) per Books With Income per Return

1 Net income (loss) per books:

2 Federal income tax per books:

3 Excess of capital losses over capital gains:

4 Income subject to tax not recorded on books:

5 Expenses recorded on books this year not deducted in this return:

7 Income recorded on books this year not included in this tax return:

8 Deductions in this tax return not charged against book income this year:

10 Income (page 1, line 25a):

Schedule M-2 - Analysis of Unappropriated Retained Earnings per Books

1 Balance at beginning of year:

2 Net income (loss) per books:

3 Other increases:

5 Distributions: Cash Stock Property

6 Other decreases:

8 Balance at end of year:

Sign Here

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.

May the IRS discuss this return with the preparer shown below? Yes No

Paid Preparer Use Only

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