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New Member
posted Jun 4, 2019 7:16:37 PM

I have to fill and present Form 1120 of an American Corp that have just started and have no sales during 2017 and little expenses, can you help me?

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1 Best answer
New Member
Jun 4, 2019 7:16:39 PM

 An 1120 is for a C Corporation to report income and losses.  If the business was opened in 2017, even though it did not make any money, you still need to do the 1120.  There may be start-up costs that you can document for deduction later.

The only TurboTAx product that can generate an 1120 is TurboTax Business.  That is NOT the same as TurboTax Home and Business.

https://turbotax.intuit.com/small-business-taxes/

1 Replies
New Member
Jun 4, 2019 7:16:39 PM

 An 1120 is for a C Corporation to report income and losses.  If the business was opened in 2017, even though it did not make any money, you still need to do the 1120.  There may be start-up costs that you can document for deduction later.

The only TurboTAx product that can generate an 1120 is TurboTax Business.  That is NOT the same as TurboTax Home and Business.

https://turbotax.intuit.com/small-business-taxes/