SCHEDULE PH 

(Form 1120)

(Rev. December 2013)

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)

14 Dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 

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. 12-2013)
Schedule PH (Form 1120) (Rev. 12-2013) 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. 12-2013)