Extract data from Form 1120
Unstract reads Form 1120 and 1120-S corporate returns, with Schedules L, M-1 and the K-1s issued to shareholders, from scans or another preparer's PDFs, and posts every line as checked data to your tax software.
new client: tie line 20 to Form 4562
Form 1120 (2025) · Page 1
{ "form": "Form 1120", "tax_year": 2025, "corporation": "Halvorsen Tool & Die, Inc.", "total_assets": 4862300, "gross_receipts": 6420000, "total_income": 2296800, "officer_compensation": 410000, "total_deductions": 1642800, "taxable_income": 654000, "total_tax": 137340, "confidence": 0.96}
Trusted by tax and accounting teams around the globe
Corporate returns come in from the last preparer, not from your software
When a business moves to your firm, its filed 1120s and 1120-S returns show up in whatever form the old firm or the owner kept them.
Signed paper copies scanned back to PDF
Lines that shift between tax years and between 1120 and 1120-S
Owner notes and changed figures on the kept copy
The return, its schedules and each shareholder's K-1 in one file
Other-deductions statements and trial balances in no fixed layout
Staff rekey the income lines, the deductions and the balance sheet before anyone can roll the corporation forward, and that work lands in the weeks before the March and April deadlines.
Unstract reads the 1120 or 1120-S with its schedules and K-1s, extracts the lines you name, ties them to each other and fills your tax software.
Parse, extract and automate corporate returns from every client
Parsing, extraction and automation are separate products. Start by reading business returns and add the rest when the corporate season needs it.
Parse Form 1120 returns into text that keeps every line number
LLMWhisperer turns each page of an 1120, 1120-S, 1120-C or 1120-H into text with the layout intact, whether the page came from tax software, a scanner or a fax. Line 27 stays line 27, the Schedule L balance sheet keeps its beginning- and end-of-year columns, and the Schedule M-1 reconciliation stays in its two halves.
Pass that text to your own LLM, or use it as the first step of a longer workflow.
Learn more about LLMWhispererForm 1120 data extraction into one record per corporation
Name the lines and schedules you need, and Document Studio returns every corporate return as the same JSON record, whatever the year or the software that printed it. For 1120-S data extraction, each shareholder's K-1 comes back as its own record, linked to the return that issued it. Schedule L has to balance and Schedule M-1 has to reconcile book income to line 28, and a figure that fails either check comes back flagged.
Call it as an API, run it as an ETL pipeline, or use it as one step in an orchestrated workflow.
Learn more about Document StudioRun corporate client intake from upload to the prepared return
Describe how your firm takes in Form 1120 and 1120-S work in plain English, and Flow's agents build the workflow: files collected from the client portal and email, each document sorted by form and tax year, the prior-year corporate return read with Schedules L and M-1, this year's 1099s, K-1s from partnerships and bank statements checked against it, and the results posted to your tax software, such as UltraTax CS or Lacerte, and to TaxDome or Drake Workflow. You approve the workflow once, and every business client runs through it the same way.
A preparer or reviewer steps in only at the points you set: a form expected from last year that never arrived, a corrected form, totals that disagree with a consolidated statement, or a value read with low confidence.
Learn more about FlowRead a Form 1120 today. Automate business intake next.
Start for free and extract your own corporate returns now. Automating the whole intake starts with a consultation.
Forms 1120, 1120-S, 1120-C and 1120-H, with the schedules filed beside them
Documents
- Form 1120 U.S. corporation income tax return
- Form 1120-S income tax return for an S corporation
- Form 1120-C return for cooperative associations
- Form 1120-H return for homeowners associations
- Schedule K-1 (Form 1120-S) shareholder's share of income
- Schedule L balance sheets per books
- Schedule M-1 reconciliation of income per books
- Schedule M-2 analysis of retained earnings
- Schedule M-3 for corporations with $10 million or more in assets
- Schedule C dividends and special deductions
- Schedule J tax computation
- Schedule K other information
- Schedule G owners of 20% or more of voting stock
- Form 1125-A cost of goods sold
- Form 1125-E compensation of officers
- Form 4562 depreciation and amortization
- Form 2553 S corporation election
- Form 7004 extension of time to file
- Form 1120-X amended corporation return
- Prior-year corporate returns and other-deductions statements
Fields captured
Processes these returns feed
Built for the firms and teams that prepare and review business returns
A new business client's prior 1120 or 1120-S in your tax software before the engagement meeting, with depreciation and carryovers in place.
Several years of corporate returns read side by side when a notice or an installment agreement depends on what the business reported.
Schedule L and M-1 figures tied to the books you close each month, so differences surface before the return is signed.
Filed returns for every entity in the group pulled into one dataset for provision work, audits and next year's planning.
Fewer hours keying corporate returns, more on the review
Built to hold a corporation's filed numbers
A Form 1120 carries the EIN, what every officer was paid, gross receipts and the margin left after cost of goods sold. A competitor would want exactly this return, and a fraudster can use the EIN and officer names to file in the company's name.
- Returns stay encrypted in transit and in storage.
- No client's corporate return is used to train a model.
- Access set by role and engagement: staff open only the entities they work on, and each correction is logged against the return it changed.
- Your firm decides retention, and processed returns are removed when that period ends.
- Self-hosted deployment keeps processing on your own infrastructure when a firm or corporate tax department requires it.
What firms ask about reading corporate returns
Form 1120 is the federal income tax return a C corporation files each year: income, deductions, taxable income and tax, with a balance sheet on Schedule L and a book-to-tax reconciliation on Schedule M-1. Yes, its data can be extracted: LLMWhisperer reads each page and Document Studio returns the lines you name as JSON.
Unstract reads corporate returns; it does not prepare them. Document Studio uses LLMs to pull each 1120 or 1120-S into a structured record, and that record goes into your tax software, such as UltraTax CS or Lacerte, where your preparers already work.
Yes. Corporate tax return OCR with LLMWhisperer handles skewed scans, faxes and pen corrections and keeps each amount beside its line number. A value read with low confidence goes to a reviewer with the page open next to it.
Yes. LLMWhisperer works as the Form 1120 parser, and Document Studio publishes an API endpoint for each document type: send a return, receive JSON. The same extraction can run as an ETL pipeline that collects returns from a folder or an S3 bucket.
Yes. The 1120-S comes back as one record and each Schedule K-1 as its own, linked to the return. Each shareholder's share of ordinary income is checked against the return's total and the ownership percentage.
Extraction runs the return's own arithmetic: gross profit against receipts and cost of goods sold, total deductions against lines 12 to 26, Schedule L assets against liabilities and equity, and Schedule M-1 against line 28. A figure that fails comes back flagged.
Forms 1120, 1120-S, 1120-C, 1120-H and 1120-X, Schedules C, G, J, K, K-1, L, M-1, M-2 and M-3, Forms 1125-A, 1125-E, 4562, 2553 and 7004, and the statements attached to line 26.
Yes. Banks and commercial lenders read two or three years of a borrower's 1120s for revenue, officer compensation and cash flow, and the same records can feed a credit decision as easily as a tax return.
Yes. Describe the intake in plain English and Flow's agents build it: collect from the portal and email, sort by form and year, read the prior return, check this year's documents against it and post to your tax software. You approve the workflow first, and it stops only where you told it to.
Unstract is SOC 2, ISO 27001, GDPR and HIPAA compliant. Returns are encrypted, never used to train models and kept only for the period your firm sets, and self-hosted deployment is available. See the Trust Center for each control.
Bring a few business clients' prior-year returns
Scanned 1120s, 1120-S returns with their K-1s, and the other-deductions statements behind them. We run them live and show every line, check and flag.