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Given this information: Mike’s Sporting Goods, Inc. owns 20% of the stock of one corporation. Can...

Given this information: Mike’s Sporting Goods, Inc. owns 20% of the stock of one corporation. Can you please advise how form Schedule G Form 1120 Information on Certain Persons Owning the Corporation’s Voting Stock should be filled out?

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Answer #1

Part 1 of Schedule G Form 1120 should be filled out as Mike Sporting Goods Inc (a domestic corporation) owns 20% of the stock of one corporation.

The name of the company being Mike Sporting Goods, Inc should be on top along with the Employer identification number.

In column (i) will be the name of the entity in which Mike's Sporting Goods Inc owns the stock.

Column (ii) will be the said entity's Employer identification number if any. Column (iii) will be the type of entity this company is, which should be corporation in this case.

Column (iv) will be the country of organization of this entity, in which Mike's Sporting Goods Inc holds the shares.

Column (v) will be the percentage owned in voting stock, being 20% in this case.

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