Share with your friends

Form 1120-C instructions for 2017

Form 1120-C instructions for 2017

The IRS has posted the 2017 instructions for Form 1120-C.


Related content

The instructions [PDF 458 KB] for Form 1120-C, U.S. Income Tax Return for Cooperative Associations, reveal the following items are new for 2017:

  • An increase in penalty for a failure to file
  • An alternative tax for cooperatives with qualified timber gains
  • A deduction for foreign-sourced portion of dividends received by domestic corporations from specified 10% owned foreign corporations
  • Treatment of deferred foreign income upon transition to a participation exemption system of taxation
  • Disaster relief measures
  • Film, television, and live theatrical productions eligible for the special deprecation allowance
  • Entertainment expenses, membership dues, and facilities
  • Net operating loss (NOL) rules
  • Principal business activity codes


For more information, contact KPMG’s National Director of Cooperative Tax Services:

David Antoni | +1 (267) 256-1627 |


Or Associate National Director of KPMG’s Cooperative Tax Services:

Brett Huston | +1 (916) 554-1654 |

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Want to do business with KPMG?


loading image Request for proposal