1120 Form Schedule H

Business, Legal & Accounting Glossary

Definition: 1120 Form Schedule H


1120 Form Schedule H


Full Definition of 1120 Form Schedule H


Section 280H Limitations for a Personal Service Corporation (PSC). This form is used for and must be completed by a personal service corporation (PSC) that has elected under Section 444 to have a tax year other than a calendar year. If the Personal Service Corporation does not meet the minimum distribution requirements of Section 280H for the tax year, then it must file Schedule H with its Form 1120. However, if it does meet the requirement, it does not need to attach the completed Schedule H to its tax return, but it should still keep it with its tax records.


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Definition Sources


Definitions for 1120 Form Schedule H are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 13th November, 2021 | 0 Views.