New Business Tax Forms for 2011

by Kenneth Hoffman in , ,

New info on forms, Schedule C, 1120, 1120S, and 1065 and the new Form 1125-A.

You may need to file a new form with your 2011 business tax return. Form 1125-A, Cost of Goods Sold must be attached if you have inventory. The form is identical to the Schedule A used for many years on From 1120S, 1120C, 1120, and 1065.

In addition, there's a new question to answer on business forms. You'll have to check a box as to whether or not you made any payments that would require you to file Form 1099. A follow-up question asks if you did or will file all required Forms 1099. Don't forget, you're signing the tax return under penalties of perjury.