What is Schedule C?
The IRS tax form Schedule C is a two page
tax form which may include expenses that require you to attach
other forms and schedules. See How to do Schedule C for help
in filling out tax form Schedule C.
What tax forms to attach to Schedule C tax
If you are depreciating assets used in your
business, you may have to include Form
4562, Depreciation and Amortization.
If you use your home for your business, you
may have to include Form 8829,
Expenses for Business Use of Your Home. Use Schedule
SE, Self Employment Tax, to report the tax due on net earnings
from self employment.
Understanding Schedule C
Schedule C is divided into the following
background information (A-H)
Income (Part I, lines 1-7 and Part III, Cost of
Goods Sold, lines 33-42)
Expenses (Part II, lines 8-27 and Part V, Other
Expenses, line 48)
Profit or Loss Calculation (lines 28-31) and
Information on Your Vehicle (Part IV, lines 43-47b)