Form 1120-C

Department of the Treasury 

Internal Revenue Service 

U.S. Income Tax Return for Cooperative Associations

For calendar year 2019 or tax year beginning , 2019, ending , 20

▶ Go to www.irs.gov/Form1120C for instructions and the latest information.

OMB No. 1545-0123

2019

Please type or print

Name

Number, street, and room or suite no. If a P.O. box, see instructions.

City or town, state or province, country, and ZIP or foreign postal code

A Check if:

(1) Consolidated return 

(attach Form 851)

(2) Schedule M-3 (Form 

1120) attached 

(3) Form 1120 filed in 

previous tax year

B Employer identification number

C Check if:

(1) Farmers’ tax exempt 

cooperative . . .

(2) Nonexempt 

cooperative . . .

D Check if: (1) Initial return (2) Final return (3) Name change (4) Address change (5) Amended return Income

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

2 Cost of goods sold (see instructions—attach Form 1125-A) . . . . . . . . . . . . . 2 

3 Gross profit. Subtract line 2 from line 1c . . . . . . . . . . . . . . . . . . . 3 

4 Dividends and inclusions (Schedule C, line 23) . . . . . . . . . . . . . . . . . 4 

5 Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 

6 Gross rents and royalties . . . . . . . . . . . . . . . . . . . . . . . . 6 

7 Capital gain net income (attach Schedule D (Form 1120)) . . . . . . . . . . . . . . 7 

8 Net gain or (loss) from Form 4797, Part II, line 17 (attach Form 4797) . . . . . . . . . . 8 

9 Other income (see instructions—attach statement) . . . . . . . . . . . . . . . . 9 

10 Total income. Add lines 3 through 9 . . . . . . . . . . . . . . . . . . . ▶ 10 

Deductions (See instructions for limitations on deductions.)

11 Compensation of officers (attach Form 1125-E) . . . . . . . . . . . . . . . . . 11 

12 Salaries and wages (less employment credits) . . . . . . . . . . . . . . . . . 12 

13 Bad debts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 

14 Rents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 

15 Taxes and licenses . . . . . . . . . . . . . . . . . . . . . . . . . . 15 

16 Interest (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . 16 

17 Charitable contributions . . . . . . . . . . . . . . . . . . . . . . . . . 17 

18 Depreciation not claimed on Form 1125-A or elsewhere on return (attach Form 4562) . . . . 18 

19 Advertising . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 

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

21 Employee benefit programs . . . . . . . . . . . . . . . . . . . . . . . 21 

22 Section 199A(g) deduction (see instructions) . . . . . . . . . . . . . . . . . . 22 

23 Other deductions (attach statement) . . . . . . . . . . . . . . . . . . . . . 23 

24 Total deductions. Add lines 11 through 23 . . . . . . . . . . . . . . . . . ▶ 24 

25 a Taxable income before adjustments and special deductions. Subtract line

24 from line 10 . . . . . . . . . . . . . . . . . . . . 25a

b Less: deductions and adjustments from Schedule H, line 5 . . . . . 25b 25c

26 Less: a Net operating loss deduction (see instructions) . . . . . . 26a

b Special deductions (Schedule C, line 24) . . . . . . . . 26b 26c

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. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.

▲

Signature of officer Date ▲

Title

May the IRS discuss this return 

with the preparer shown below? 

See instructions. Yes No 

Paid 

Preparer 

Use Only

Print/Type preparer’s name Preparer’s signature Date Check if 

self-employed 

PTIN

Firm’s name ▶

Firm’s address ▶

Firm’s EIN ▶

Phone no. 

For Paperwork Reduction Act Notice, see separate instructions. Cat. No. 47554F Form 1120-C (2019) 
Form 1120-C (2019) Page 2 Tax, Refundable Credits, and Payments

27 Taxable income. Subtract line 26c from line 25c. See instructions . . . . . . . . . . . 27 

28 Total tax (Schedule J, line 9) . . . . . . . . . . . . . . . . . . . . . . . 28 

29 2019 net 965 tax liability paid from Form 965-B, Part II, column (k), line 3 . . . . . . . . 29 

30a 2018 overpayment credited to 2019 . . 30a

b 2019 estimated tax payments . . . . 30b

c 2019 refund applied for on Form 4466 . 30c ( ) d Bal ▶ 30d

e Tax deposited with Form 7004 . . . . . . . . . . . . . . 30e

f Credits: (1) Form 2439 (2) Form 4136 30f

g Refundable credits from Form 8827, line 5c . . . . . . . . . . 30g

h Section 1383 adjustment (see instructions) . . . . . . . . . . 30h

i 2019 net 965 tax liability from Form 965-B, Part I, column (d), line 3 . . . 30i 30j

31 Estimated tax penalty. See instructions. Check if Form 2220 is attached . . . . . . . ▶ 31

32 Amount owed. If line 30j is smaller than the total of lines 28, 29, and 31, enter amount owed . . 32

33 Overpayment. If line 30j is larger than the total of lines 28, 29, and 31, enter amount overpaid. . 33

34 Enter amount of line 33 you want: Credited to 2020 estimated tax ▶ Refunded ▶ 34

Schedule C Dividends, Inclusions, and Special Deductions 

 (see instructions)

(a) Dividends 

and inclusions (b) % (c) Special deductions ((a) × (b))

1 Dividends from less-than-20%-owned domestic corporations (other than 

debt-financed stock) . . . . . . . . . . . . . . . . . . 50

2 Dividends from 20%-or-more-owned domestic corporations (other than 

debt-financed stock) . . . . . . . . . . . . . . . . . . 65

3 Dividends on certain debt-financed stock of domestic and foreign 

corporations . . . . . . . . . . . . . . . . . . . . .

See 

instructions

4 Dividends on certain preferred stock of less-than-20%-owned public utilities 23.3

5 Dividends on certain preferred stock of 20%-or-more-owned public utilities 26.7

6 Dividends from less-than-20%-owned foreign corporations and certain FSCs 50

7 Dividends from 20%-or-more-owned foreign corporations and certain FSCs 65

8 Dividends from wholly owned foreign subsidiaries . . . . . . . . 100

9 Subtotal. Add lines 1 through 8. See instructions for limitations . . . .

See 

instructions

10 Dividends from domestic corporations received by a small business 

investment company operating under the Small Business Investment Act 

of 1958 . . . . . . . . . . . . . . . . . . . . . . 100

11 Dividends from affiliated group members . . . . . . . . . . . 100

12 Dividends from certain FSCs . . . . . . . . . . . . . . .

See 

instructions

13 Foreign-source portion of dividends received from a specified 10%-owned 

foreign corporation (excluding hybrid dividends) (see instructions) . . . 100

14 Dividends from foreign corporations not included on line 3, 6, 7, 8, 11, 12, 

or 13 (including any hybrid dividends). . . . . . . . . . . . .

15 Section 965(a) inclusion . . . . . . . . . . . . . . . . .

See 

instructions

16a Subpart F inclusions derived from the sale by a controlled foreign 

corporation (CFC) of the stock of a lower-tier foreign corporation treated as 

a dividend (attach Form(s) 5471) (see instructions) . . . . . . . . 100

b Subpart F inclusions derived from hybrid dividends of tiered corporations 

(attach Form(s) 5471) (see instructions) . . . . . . . . . . . .

c Other inclusions from CFCs under subpart F not included on line 15, 16a, 

16b, or 17 (attach Form(s) 5471) (see instructions) . . . . . . . .

17 Global Intangible Low-Taxed Income (GILTI) (attach Form(s) 5471 and Form 8992) 

18 Gross-up for foreign taxes deemed paid (see instructions) . . . . . .

19 IC-DISC and former DISC dividends not included on line 1, 2, or 3 . . .

20 Other dividends . . . . . . . . . . . . . . . . . . . .

21 Deduction for dividends paid on certain preferred stock of public utilities .

22 Section 250 deduction (attach Form 8993) . . . . . . . . . . .

23 Total dividends and inclusions. Add column (a), lines 9 through 20. Enter 

here and on page 1, line 4 . . . . . . . . . . . . . . . ▶

24 Total special deductions. Add column (c), lines 9 through 13, 15, 16, 21, and 22. Enter here and on page 

1, line 26b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ▶

Form 1120-C (2019)
Form 1120-C (2019) Page 3 

Schedule G Allocation of Patronage and Nonpatronage Income and Deductions 

Note: Before completing Schedule G, see Schedule K, Question 14.

(a) Patronage (b) Nonpatronage

1 Gross receipts or sales . . . . . . . . . . . . . . . . . . . . 1 

2 Cost of goods sold . . . . . . . . . . . . . . . . . . . . . . 2 

3 Gross profit. Subtract line 2 from line 1 . . . . . . . . . . . . . . . 3 

4 Other income . . . . . . . . . . . . . . . . . . . . . . . 4 

5 Total income. Combine lines 3 and 4 . . . . . . . . . . . . . . . 5 

6a Section 199A(g) deduction (see instructions) . . . . . . . . . . . . . 6a 

b Other deductions . . . . . . . . . . . . . . . . . . . . . . 6b

c Total deductions. Add lines 6a and 6b . . . . . . . . . . . . . . . 6c 

7 Taxable income before section 1382, NOL, and special deductions. Subtract line 6c 

from line 5 . . . . . . . . . . . . . . . . . . . . . . . . 7 

8 Deductions and adjustments under section 1382 from Schedule H, line 5 (see 

instructions) . . . . . . . . . . . . . . . . . . . . . . . . 8 

9a Net operating loss deduction (attach statement) . . . . . . . . . . . . 9a 

b Special deductions (see instructions) . . . . . . . . . . . . . . . . 9b

10 Taxable income. Subtract the total of lines 8, 9a, and 9b from line 7 . . . . . 10 

11 Combined taxable income. Combine columns (a) and (b) of line 10. See instructions 11 

12 Unused patronage loss (see instructions) . . . . . . . . . . . . . . 12 

13 Unused nonpatronage loss (see instructions) . . . . . . . . . . . . . 13 

Schedule H Deductions and Adjustments Under Section 1382 (see instructions)

1 Dividends paid on capital stock (section 521 cooperatives only) . . . . . . . . . . . . . 1 

2 Nonpatronage income allocated to patrons (section 521 cooperatives only) . . . . . . . . . 2 

3 Patronage dividends: 

a Money . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3a 

b Qualified written notices of allocation . . . . . . . . . . . . . . . . . . . . . . 3b

c Other property (except nonqualified written notices of allocation) . . . . . . . . . . . . 3c 

d Money or other property (except written notices of allocation) in redemption of nonqualified written

notices of allocation . . . . . . . . . . . . . . . . . . . . . . . . . . . 3d

4 Section 199A(g) deduction allocated to patrons (see instructions) . . . . . . . . . . . . 4 ( )

5 Total. Combine lines 1 through 4. Enter here and on page 1, line 25b, and Schedule G, line 8 . . . 5 

Schedule J Tax Computation (see instructions)

1 Check if the cooperative is a member of a controlled group (attach Schedule O (Form 1120)). 

See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . ▶

2 Income tax (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . 2 

3 Base erosion minimum tax amount (attach Form 8991) . . . . . . . . . . . . . . . . 3 

4 Add lines 2 and 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 

5 a Foreign tax credit (attach Form 1118) . . . . . . . . . . . . . 5a 

b Credit from Form 8834 (see instructions) . . . . . . . . . . . . 5b

c General business credit (attach Form 3800) . . . . . . . . . . . 5c 

d Credit for prior year minimum tax (attach Form 8827) . . . . . . . . 5d

e Bond credits from Form 8912 (attach Form 8912) . . . . . . . . . 5e

6 Total credits. Add lines 5a through 5e . . . . . . . . . . . . . . . . . . . . . 6 

7 Subtract line 6 from line 4 . . . . . . . . . . . . . . . . . . . . . . . . . 7 

8 Other taxes. Check if from: Form 4255 Form 8611 Other (attach statement)

Form 8902

8 

9 Total tax. Add lines 7 and 8. Enter here and on page 2, line 28 . . . . . . . . . . . . . 9 

Form 1120-C (2019)
Form 1120-C (2019) Page 4 

Schedule K Other Information (see instructions) 

1 Check accounting method: Yes No

a Cash

b Accrual

c Other (specify) ▶

2 See the instructions and enter the:

a Business activity code no. ▶

b Business activity ▶

c Product or service ▶

d Date of incorporation ▶

3 Check the accounting method used to compute 

distributable patronage:

a Book 

b Tax

c Other (specify) ▶

4 At the end of the tax year, did the cooperative 

own, directly or indirectly, 50% or more of the 

voting stock of a domestic corporation? (For 

rules of attribution, see section 267(c).) . . .

If “Yes,” attach a statement showing: (a) name 

and employer identification number (EIN), (b) 

percentage owned, and (c) taxable income or 

(loss) before NOL and special deductions of 

such corporation for the tax year ending with or 

within your tax year.

5 Is the cooperative a subsidiary in an affiliated 

group or a parent–subsidiary controlled group?

If “Yes,” enter name and EIN of the parent 

corporation ▶

6 At the end of the tax year, did any individual, 

partnership, corporation, estate, or trust own, 

directly or indirectly, 50% or more of the 

cooperative’s voting stock? (For rules of 

attribution, see section 267(c).) . . . . . .

If “Yes,” attach a statement showing name and 

identifying number. Do not include any 

information already entered in 5 above. Enter 

percentage owned ▶

7 Enter the cooperative’s total assets. See 

instructions ▶ $

8 At any time during the tax year, did one foreign 

person own, directly or indirectly, at least 25% 

of (a) the total voting power of all classes of 

stock of the cooperative entitled to vote, or (b) 

the total value of all classes of stock of the 

cooperative? . . . . . . . . . . . .

If “Yes,” enter: (a) Percentage owned ▶

and (b) Owner’s country ▶

c The cooperative may have to file Form 5472, 

Information Return of a 25% Foreign-Owned 

U.S. Corporation or a Foreign Corporation 

Engaged in a U.S. Trade or Business. Enter 

number of Forms 5472 attached ▶

9 Check this box if the cooperative issued 

publicly offered debt instruments with original 

issue discount . . . . . . . . . ▶

Yes No

If checked, the cooperative may have to file Form

8281, Information Return for Publicly Offered 

Original Issue Discount Instruments.

10 Enter the amount of tax-exempt income received or 

accrued during the tax year (for example, interest or 

extraterritorial income) ▶ $

11a Enter the number of foreign patrons at the end of 

the tax year ▶

b Enter the total amount of patronage distributions 

described in (or deducted under) IRC 1382(b) paid 

or allocated to foreign patrons ▶

12 If the cooperative has an NOL for the tax year and 

is electing to forego the carryback period, check 

here. See instructions . . . . . . . ▶

If the cooperative is filing a consolidated return, the 

statement required by Regulations section 1.1502-21(b)

(3) must be attached or the election will not be valid.

13 Enter the available NOL carryover from prior tax 

years. Do not reduce it by any deduction on page 1, 

line 26a.

Patronage ▶ $

Nonpatronage ▶ $

14 Are the cooperative’s total receipts (page 1, line 1a 

plus lines 4 through 9) for the tax year and its total 

assets at the end of the tax year less than $250,000?

If “Yes,” the cooperative is not required to complete 

Schedule G, L, M-1, or M-2. Instead, enter the total 

amount of cash distributions and the book value of 

property distributions (other than cash) made during 

the tax year. ▶ $

15 Enter the amount of outstanding nonqualified 

notices of allocation (attach statement) ▶

16 Does the cooperative have gross receipts of at least 

$500 million in any of the 3 preceding tax years? (See 

section 59A(e)(2) and (3)) . . . . . . . . .

If “Yes,” complete and attach Form 8991.

17 Did the cooperative have an election under section 

163(j) for any real property trade or business or any 

farming business in effect during the tax year? (see 

instructions) . . . . . . . . . . . . .

18 Does the cooperative satisfy one or more of the 

following? See instructions . . . . . . . .

a The cooperative owns a pass-through entity with 

current, or prior year carryover, excess business 

interest expense.

b The cooperative’s aggregate average annual gross 

receipts (determined under section 448(c)) for the 3 

tax years preceding the current tax year are more 

than $26 million and the cooperative has business 

interest expense. 

c The cooperative is a tax shelter and the cooperative 

has business interest expense.

If “Yes” to any, complete and attach Form 8990.

Form 1120-C (2019)
Form 1120-C (2019) Page 5 

Schedule L Balance Sheets per Books Beginning of tax year End of tax year

( ) ( )

( ) ( )

( ) ( )

( ) ( )

( ) ( )

Assets (a) (b) (c) (d) 

1 Cash . . . . . . . . . . . . . . . .

2a Trade notes and accounts receivable . . . . . .

b Less allowance for bad debts . . . . . . . .

3 Inventories . . . . . . . . . . . . . .

4 Other current assets (attach statement) . . . . .

5 Investments (see instructions) . . . . . . . .

6 Loans to shareholders . . . . . . . . . .

7 Mortgage and real estate loans . . . . . . .

8a Buildings and other depreciable assets . . . . .

b Less accumulated depreciation . . . . . . .

9a Depletable assets . . . . . . . . . . . .

b Less accumulated depletion . . . . . . . .

10 Land (net of amortization) . . . . . . . . .

11a Intangible assets (amortizable only) . . . . . .

b Less accumulated amortization . . . . . . .

12 Other assets (attach statement) . . . . . . .

13 Total assets . . . . . . . . . . . . . .

Liabilities and Capital

14 Accounts payable . . . . . . . . . . . .

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

16 Other current liabilities (attach statement) . . . .

17 Loans from shareholders . . . . . . . . . .

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

19 Other liabilities (attach statement) . . . . . . .

20 Capital stock: a Preferred stock . . . . . .

b 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 (attach statement) 

25 Retained earnings—Unappropriated . . . . . .

26 Adjustments to shareholders’ equity (attach statement)

27 Less cost of treasury stock . . . . . . . . .

28 Total liabilities and capital . . . . . . . . .

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

Note: The cooperative may be required to file Schedule M-3. See instructions.

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 this year (itemize):

5 Expenses recorded on books this year 

not deducted in this return (itemize):

a Depreciation . . . $

b Charitable contributions $

c Travel and entertainment $

6 Add lines 1 through 5 . . . . . .

7 Income recorded on books this year 

not included in this tax return (itemize): 

Tax-exempt interest $

8 Deductions in this tax return not charged 

against book income this year (itemize):

a Depreciation . . . . $

b Charitable contributions $

9 Add lines 7 and 8 . . . . . . .

10 Income (page 1, line 25a)—line 6 less line 9

Schedule M-2 Analysis of Unappropriated Retained Earnings per Books (Schedule L, line 25)

1 Balance at beginning of year . . .

2 Net income (loss) per books . . . .

3 Other increases (itemize):

4 Add lines 1, 2, and 3 . . . . . .

5 Distributions: a Cash . . . . .

b Stock . . . . .

c Property . . . .

6 Other decreases (itemize):

7 Add lines 5 and 6 . . . . . . .

8 Balance at end of year (line 4 less line 7)

Form 1120-C (2019)