Fillable U.S. Personal Holding Company (PHC) Tax Form 1120 Schedule PH Nov 2019

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U.S. Personal Holding Company (PHC) Tax Form 1120 Schedule PH Nov 2019

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SCHEDULE PH
(Form 1120)
(Rev. November 2015)
Department of the Treasury
Internal Revenue Service
U.S. Personal Holding Company (PHC) Tax
▶
Attach to tax return.
▶
Information about Schedule PH (Form 1120) and its separate instructions is at www.irs.gov/form1120.
OMB No. 1545-0123
Name Employer identification number
Part I
Undistributed Personal Holding Company Income (see instructions)
Additions
1
Taxable income before net operating loss deduction and special deductions. Enter amount
from Form 1120, line 28 . . . . . . . . . . . . . . . . . . . . . .
1
2 Contributions deducted in figuring line 1. Enter amount from Form 1120, line 19 . . . . 2
3
Excess expenses and depreciation under section 545(b)(6). Enter amount from Part V,
line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
4
Total. Add lines 1 through 3 . . . . . . . . . . . . . . . . . . . . .
4
Deductions
5
Federal and foreign income, war profits, and excess profits taxes not deducted in figuring
line 1 (attach schedule) . . . . . . . . . . . . . . . . . . . . . .
5
6 Contributions deductible under section 545(b)(2). See instructions for limitation . . . . 6
7 Net operating loss for the preceding tax year deductible under section 545(b)(4) . . . . 7
8 a Net capital gain from Schedule D (Form 1120), line 17 . . 8a
b
Less: Income tax on this net capital gain (see section
545(b)(5)) (attach computation) . . . . . . . . . .
8b 8c
9
Deduction for dividends paid (other than dividends paid after the end of the tax year). Enter
amount from Part VI, line 5 . . . . . . . . . . . . . . . . . . . . .
9
10 Total. Add lines 5 through 9 . . . . . . . . . . . . . . . . . . . . .
10
11 Subtract line 10 from line 4 . . . . . . . . . . . . . . . . . . . . . 11
12
Dividends paid after the end of the tax year (other than deficiency dividends defined in
section 547(d)), but not more than the smaller of line 11 or 20% of Part VI, line 1 . . .
12
13
Undistributed PHC income. Subtract line 12 from line 11 . . . . . . . . . . .
13
Note: If the information in Part II and Part IV is not submitted with the return, the limitation period for assessment and
collection of the PHC tax is any time within 6 years after the return is filed. See section 6501(f).
Part II
Personal Holding Company Income (see instructions)
14a Dividends . . . . . . . . . . . . . . . . . . . 14a
b Less: Dividends excluded (under section 543(a)(1)(C)) . . . . 14b 14c
15a Interest . . . . . . . . . . . . . . . . . . . 15a
b Less: Amounts excluded (attach schedule) . . . . . . . 15b 15c
16 Royalties (other than mineral, oil, gas, or copyright royalties) . . . . . . . . . . . . 16
17 Annuities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
18a Rents . . . . . . . . . . . . . . . . . . . . 18a
b Less: Adjustments to rents (attach schedule) . . . . . . . 18b 18c
19a Mineral, oil, and gas royalties . . . . . . . . . . . . 19a
b
Less: Adjustments to mineral, oil, and gas royalties (attach
schedule) . . . . . . . . . . . . . . . . . . .
19b
19c
20 Copyright royalties . . . . . . . . . . . . . . . . . . . . . . . . . . 20
21 Produced film rents . . . . . . . . . . . . . . . . . . . . . . . . . 21
22 Compensation received for use of corporation property by 25% or more shareholder . . . . 22
23 Amounts received under personal service contracts and from their sale . . . . . . . . 23
24 Amounts includible in taxable income from estates and trusts . . . . . . . . . . . 24
25
PHC income. Add lines 14 through 24 . . . . . . . . . . . . . . . . . . .
25
Part III
Tax on Undistributed Personal Holding Company Income (see instructions)
26
PHC tax. Multiply the amount on line 13 by 20%. Enter the result here and on Schedule J (Form
1120), line 8, or on the proper line of the appropriate tax return . . . . . . . . . . .
26
For Paperwork Reduction Act Notice, see the Instructions for Form 1120. Cat. No. 11465P Schedule PH (Form 1120) (Rev. 11-2015)
Schedule PH (Form 1120) (Rev. 11-2015)
Page 2
Part IV
Stock Ownership Requirement Under Section 542(a)(2)
Enter the names and addresses of the individuals who together owned, directly or indirectly, at any time during
the last half of the tax year, more than 50% in value of the outstanding stock of the corporation.
(a) Name (b) Address
Highest percentage of shares
owned during last half of tax year
(c) Preferred (d) Common
1
% %
% %
% %
% %
% %
2 Add the amounts in columns (c) and (d) and enter the totals here . . . . . . . . .
▶
% %
Part V
Excess of Expenses and Depreciation Over Income From Property Not Allowable
Under Section 545(b)(6) (see instructions for Part I, line 3)
(a) Description of
property
(b) Date
acquired
(c) Cost or
other basis
(d) Depreciation
deduction
(e) Repairs,
insurance, and
other expenses
(section 162)
(attach schedule)
(f) Total of
columns (d)
and (e)
(g) Income from
rent or other
compensation
(h) Excess
(col. (f) less
col. (g))
1
2
Total excess of expenses and depreciation over rent or other compensation. Add the amounts in column
(h). Enter the total here and on Part I, line 3 . . . . . . . . . . . . . . . . . . . . . . .
Note: Attach a statement showing the names and addresses of persons from whom rent or other
compensation was received for the use of, or the right to use, each property.
Part VI
Deduction for Dividends Paid Under Sections 561 and 562
1
Taxable dividends paid. Do not include dividends considered as paid in the preceding tax year
under section 563 or deficiency dividends as defined in section 547 . . . . . . . . .
1
2 Consent dividends. Attach Forms 972 and 973 . . . . . . . . . . . . . . . . 2
3 Taxable distributions. Add lines 1 and 2 . . . . . . . . . . . . . . . . . . . 3
4 Dividend carryover from first and second preceding tax years. Attach computation . . . . 4
5 Deduction for dividends paid. Add lines 3 and 4. Enter the total here and on Part I, line 9 . .
5
Schedule PH (Form 1120) (Rev. 11-2015)
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U.S. Personal Holding Company (PHC) Tax Form 1120 Schedule PH Nov 2019

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Completed 23 May 2019

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