Practice Return · Chapter 1FREE PREVIEW
Ch 1 — First-Year Consulting Corp (Simple)
Scenario
Meridian Consulting Corp was formed 3/1/2025, calendar year, single owner (Jenna Ross, 100%). No operations in 2024. First year of business. Ross incurred $6,200 in incorporation legal fees before 3/1/2025 and $18,000 in market research and pre-opening expenses. The corp began operations 4/15/2025.
Given data
Incorporation legal fees (§248 organizational)$6,200
Market research + pre-opening (§195 startup)$18,000
Business begin date4/15/2025
Tax yearCalendar (4/15/2025 – 12/31/2025)
Fill in the Form 1120 lines
Enter your answer for each line as it would appear on Form 1120 or in tax software. Round to whole dollars unless indicated.