myCPE

1120 Tax Prep with Drake Software

Complete IRS 1120 returns confidently using Drake software.

  • Understand IRS guidelines for 1120 deductions.
  • Learn Drake’s Income, Deductions, & Schedule L sections.
  • Grasp the importance of accuracy in tax data input.
  • Review the e-filing process & submitting returns.
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Why Professionals Trust Our Practical Training Programs

  • Programs designed to build skills for more workplace efficiency.
  • Comprehensive tax training aligned with industry standards.
  • Supportive learning tools for application of knowledge.
  • Regular updates to course for staying with industry trends.
All Practical Training Programs Available Only in Teams Premium Plan
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Course Details

What You’ll learn

Form 1120 is the U.S. federal income tax return used by corporations to report their income, deductions, and calculate their tax liability. This comprehensive course will guide you through using Drake Tax Software, focusing on IRS guidelines, income and deductions, balance sheets, and schedules. You'll gain hands-on experience in drafting engagement letters, ensuring precision in data input, and managing amended returns. Join us to streamline your corporate tax preparation and filing process with confidence.

Major Topics covered

IRS Guidelines Overview

Income and Deductions

Schedule L and Schedules M

Schedule K and 1125-E

Capital Gains and Depreciation

Foreign Entities Guidelines

E-filing Process

Amended Returns Process

Disclaimer : Before attending any course, please verify that the credit details align with your qualification requirements. This certificate is designed to help you acquire new skills and knowledge, which may or may not fulfill specific compliance criteria. While we have made every effort to ensure our courses adhere to compliance standards, we recommend reviewing the details to confirm applicability for your needs.

Course Modules

Course Title Time Total Session
1. Fundamentals of Corporate Tax Returns (1120 Series)
1 Hr, 44 Mins 1 Session
  • Play Now - Fundamentals of Corporate Tax Returns (1120 Series)
2. 1120 Filing: Initial Setup Made Simple
1 Hr, 9 Mins 1 Session
  • Play Now - 1120 Filing: Initial Setup Made Simple
3. Reporting Income, Deductions, and COGS on 1120
1 Hr, 14 Mins 1 Session
  • Play Now - Reporting Income, Deductions, and COGS on 1120
4. Simulation 1's explanation video
8 Mins 1 Session
  • Play Now - Simulation 1's explanation video
5. Schedules L and M: Corporate Balance Sheet Basics
1 Hr, 8 Mins 1 Session
  • Play Now - Schedules L and M: Corporate Balance Sheet Basics
6. Form 1120: Navigating Schedule K and E-Filing
1 Hr, 10 Mins 1 Session
  • Play Now - Form 1120: Navigating Schedule K and E-Filing
7. Simulation 2's explanation video
9 Mins 1 Session
  • Play Now - Simulation 2's explanation video
8. Schedule D and Credit Tabs: A Quick Overview
1 Hr, 9 Mins 1 Session
  • Play Now - Schedule D and Credit Tabs: A Quick Overview
9. Foreign Tab Essentials for Corporate Filings
1 Hr, 9 Mins 1 Session
  • Play Now - Foreign Tab Essentials for Corporate Filings
10. Simulation 3's explanation video
9 Mins 1 Session
  • Play Now - Simulation 3's explanation video
11. Form 1120: Review, Errors, and Final Submission
1 Hr, 5 Mins 1 Session
  • Play Now - Form 1120: Review, Errors, and Final Submission
12. Amending 1120 Returns: A Step-by-Step Guide
1 Hr, 8 Mins 1 Session
  • Play Now - Amending 1120 Returns: A Step-by-Step Guide
      13. Final Quiz

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Discover Why We’re the Preferred Choice!

Concise and Clea

“Concise, clear, and easy to follow. The course broke down complex tax reporting into manageable bits. The quiz was fair, and the explanations helped me reinforce what I learned. I love myCPE! 🧠✅”

Jennifer Simmons

Jennifer Simmons, CPA

Senior Tax Analyst

Best Practical Tax Course I’ve Taken

“This was hands-down one of the most practical and relevant tax courses I’ve completed. The real-world scenarios and simulations gave me a genuine sense of what to expect when working with Form 1120. I also appreciated the clear explanations for Schedules L, M-1, and M-2. I walked away with more confidence in handling corporate returns. 🙌”

David R. Holloway

David R. Holloway, MST

Corporate Tax Consultant

Love the Platform!

“I can’t say enough good things about this course and myCPE as a platform. The interface is smooth, the content is always up to date, and the instructors actually know what they’re talking about. You can tell this was built for professionals by professionals. Great job! 🎓💼”

Linda M. Jackson

Linda M. Jackson, EA

Tax Compliance Manager

Solid Foundation for Corporate Filing

“This course really helped me solidify my understanding of the corporate tax filing process. As someone transitioning into more complex entity work, I needed to strengthen my knowledge of 1120 reporting. The simulations and walkthrough videos made learning engaging and practical. A solid foundation for anyone serious about tax work.”

Thomas Brooks

Thomas Brooks, CPA

Business Tax Strategist

Smooth and Digestible

“The content was smooth, digestible, and very relevant. The instructors kept things at a perfect pace—not too fast, not too slow. Form 1120 always seemed intimidating before, but now it feels far more approachable. 👩‍⚖️✨”

Grace Nguyen

Grace Nguyen, JD

Tax Attorney

Loved Every Module!

“This course hit all the key points with clarity and precision. The breakdown of deductions, income types, and common errors was especially useful. myCPE continues to impress me with how professionally these courses are developed. I’ll be recommending this to my team. 💯”

Marcus Avery

Marcus Avery, CPA

Tax Education Coach

Excellent Walkthroughs and Demos

“I appreciated how every part of the course had a purpose. The simulations gave me a safe space to try out scenarios, the videos were super clear, and the examples were practical. Schedule D and Foreign Tab content was a nice bonus—it’s not something every course dives into. Thanks for keeping things real!”

Sheila D. Morrison

Sheila D. Morrison, MBA

Financial Tax Advisor

Worth the Time

“Very informative and well-explained. This was worth every minute. The final review module was especially helpful—caught some errors I’ve probably made before. Highly recommend it to anyone handling business tax returns.”

Carlos Espinoza

Carlos Espinoza, EA

Corporate Return Preparer

User-Friendly and Sharp

“The myCPE experience was smooth, professional, and packed with insight. As a repeat learner on this platform, I continue to be impressed with the structure, interface, and content depth. The PTC course helped me brush up on essentials and take on more corporate clients with confidence. 👩🏾‍💼📊”

Monique R. Carter

Monique R. Carter, MST

Tax Planning Specialist

Eye-Opening Course

“Form 1120 used to intimidate me—this course changed that. I gained more than technical knowledge—I developed a clearer process for approaching corporate returns from start to finish. I especially liked the error detection and amending modules. It's a game-changer for busy professionals who don’t have time to waste.”

Brandon Fields

Brandon Fields, CPA

Corporate Tax Manager

Frequently Asked Questions

This course will cover IRS guidelines for 1120 Forms, income and deductions, balance sheets, schedules (L, M, and K), e-filing procedures, and filing amended returns. It will also include hands-on navigation of Drake Tax Software, including key screens for data input, drafting engagement letters, and ensuring accuracy throughout the tax preparation process.

This course is ideal for tax professionals, accountants, and financial consultants who want to enhance their technical skills with Drake Tax Software and gain a solid understanding of IRS 1120 Forms, tax compliance, and e-filing processes. Enroll if you're seeking to ensure precise tax filings and navigate the complexities of corporate tax returns with confidence.

This course emphasizes practical learning through real-life case studies and hands-on examples. It breaks down complex tax concepts into manageable steps for easy application. Learners can directly apply the skills in their day-to-day business tax scenarios.  

Participants gain access to comprehensive learning materials, including detailed course modules, real-life case studies, and interactive quizzes. It covers fundamental business tax topics and strategies for tax planning. Access to downloadable resources and expert insights is also included.

The instructor is a seasoned professional in corporate taxation, bringing extensive experience in preparing and reviewing 1120 Forms. The instructor provides deep insights into the nuances of IRS tax laws and tax software functionality, ensuring that participants gain both theoretical knowledge and practical skills for real-world applications.

Completing this course opens career opportunities in corporate tax preparation, accounting, and consulting. It can also enhance your qualifications for roles such as tax preparer, tax advisor, and corporate accountant, particularly within firms or businesses that require expertise in preparing and filing corporate tax returns. Additionally, it can serve as a steppingstone to more advanced tax certifications and leadership roles in tax departments.