Small business tax help website
 

Schedule C

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 form?

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.

Form 8829

Understanding Schedule C

Schedule C is divided into the following sections:

  • 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)