Tax Form 720to Fill in and Calculate Online

Form 720to: Terminal Operator Report

Use Tax Form 720to: Terminal Operator Report as a stand alone tax form calculator to quickly calculate specific amounts for your 2024 tax return. Alternatively you can use one of our Combined Federal and State Tax Estimator to quickly calculate your salary, tax and take home pay.

Terminal Operator Report
				Net Gallons (attach additional schedule(s) if needed) Enter the transactions for the period on Schedules A and B, then complete lines 1 through 7 for each product code (PC) (see the instructions).
				(a) PC:	(b) PC:	(c) PC:	(d) PC:
1	Beginning inventory.
2	Total receipts. Enter the total net gallons from Schedule(s) A, column (g), by PC.
3	Total gallons available. Add lines 1 and 2.
4	Total disbursements. Enter the total net gallons from Schedule(s) B, column (f). If you have disbursements for more than one position holder for a PC, add the amounts from each position holder’s Schedule B and enter the combined total by PC.
5	Subtract line 4 from line 3.
6	Stock gains and losses. Show losses in (parentheses).
7	Actual physical ending inventory at terminal.
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete.
Schedule A Terminal Operator Receipts
1	Product Code (PC). Enter the PC (see instructions). A separate schedule is required for each PC ▸					Page of For more than one Schedule A, for each different PC, number each sheet. For example, 1 of 4, 2 of 4, etc.
1a	Position Holder (PH) name. Enter PH name for PCs Bxx, Dxx, and Exx. Enter one name per page.				PH EIN	PH Form 637 registration number
2	Enter in the columns below the information requested for the PC on line 1 above.
(a) Carrier name		(b) Carrier EIN	(c) Mode code	(d) Vessel official number (required when mode code is B, S, IB, IS, EB, or ES)	(e) Document date	(f) Document number	(g) Net gallons
















3	Total. Add amounts in column (g) and enter the total. If there is more than one page for a PC, add the amounts from each page and enter the result on the last page of Schedule A for that PC. Do not enter page subtotals. Enter the amount from column (g) on Form 720-TO, Part III, line 2, in the column for the applicable PC ▸						3
Schedule B Terminal Operator Disbursements by Position Holder
Position Holder name. Enter one name per page.			PH EIN	PH Form 637 registration number	Page of For more than one Schedule B, for each different PC, DS, or MC, number each sheet. For example, 1 of 4, 2 of 4, etc.
Complete lines 1 through 4 for each PC.
1	Product Code (PC). Enter the PC (see instructions). A separate schedule is required for each PC ▸						1
2	Destination State (DS). Enter the DS for each PC (see instructions). A separate schedule is required for each PC by state. PC 167 destined for Virginia (VA) and Maryland (MD) requires two schedules ▸						1
3	Mode Code (MC). Enter the MC (see instructions) for each PC for each DS. PC 167 destined for VA by truck and rail and destined for MD by truck and rail would require four separate schedules: (1) PC 167, VA, rail; (2) PC 167, VA, truck; (3) PC 167, MD, rail; and (4) PC 167, MD, truck ▸						1
Example. ABC Terminal is preparing Schedule B for disbursements made by position holder XYZ. XYZ disburses gasoline (PC 065), diesel fuel #2 low sulphur undyed (PC 167), and jet fuel (PC 130) during the month destined for two states by truck. ABC must prepare six Schedules B to report XYZ’s transactions (3 PCs x 2 DSs). A further breakdown by MC is not needed because only truck was used.
4	Enter in the columns below the information requested for the PC on line 1 above.
(a) Carrier name		(b) Carrier EIN	(c) Vessel official number (required when mode code is B, S, IB, IS, EB, or ES)	(d) Document date	(e) Document number	(f) Net gallons	(g) Gross gallons










5	Totals. Add all amounts in columns (f) and (g) for each PC, DS, or MC. If there are two MCs for a product destined for one state, or if a product is destined for two states, then two Schedules B and totals are required. If there is more than one Schedule B for a PC, DS, or MC, add the amounts from each schedule and enter the result on the last page of Schedule B for each different PC, DS, or MC. Do not enter page subtotals. Enter the amount from column (f) for each PC on Form 720-TO, Part III, line 4, in the column for the applicable PC ▸					5(f)	5(g)

Follow us on Facebook to be informed of the latest updates to the US Tax Form Calculator and our popular Tax and Finance Calculators.