Filing for small business

Forum|Forum|7 years ago
June 1, 2019
1 reply
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I have a VERY small business (not an LLC). I file taxes under my vendor's license twice a year. My expenses are much more than what I made last year. What forms do I need to fill out and where?

TurboTax Deluxe Online

Anonymous

Choose TurboTax Home & Business https://turbotax.intuit.com/personal-taxes/cd-download/home-and-business.jsp (desktop version) or TurboTax Self-Employed https://turbotax.intuit.com/personal-taxes/online/self-employed.jsp (online version).

Schedule C, Profit or Loss from Business is an IRS form filed by sole proprietors and other self-employed taxpayers.

It tallies up the business's income and expenses, and the net income (or loss) flows from Schedule C to Form 1040, Line 12.

TurboTax automatically creates Schedule C (or Schedule C-EZ) when you enter your business information or when you enter what the IRS considers self-employment income, which is often reported on Form 1099-MISC.