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WorkerBee
New Member

Can I take the Standard deduction on Form 1040 since I have income from employment and also still use Schedule C for my small business deductions?

If my estimated itemized deductions for 2018 are close to the standard deduction and I'd like to simplify, can I take the standard deduction and still file Schedule C for my small business?

1 Best answer

Accepted Solutions
TomYoung
Level 13

Can I take the Standard deduction on Form 1040 since I have income from employment and also still use Schedule C for my small business deductions?

Yes.

Most people these days will take the standard deduction since the amount of the standard deduction has been raised and many itemized deductions have been eliminated or severely restricted as to amount allowed.

The deductions to take on Schedule C are completely independent of amounts that might be claimed as itemized deductions.  If the expenditures are ordinary and necessary to your business activity and properly supported as to amount, those continue to be listed on Schedule C.

Tom Young

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1 Reply
TomYoung
Level 13

Can I take the Standard deduction on Form 1040 since I have income from employment and also still use Schedule C for my small business deductions?

Yes.

Most people these days will take the standard deduction since the amount of the standard deduction has been raised and many itemized deductions have been eliminated or severely restricted as to amount allowed.

The deductions to take on Schedule C are completely independent of amounts that might be claimed as itemized deductions.  If the expenditures are ordinary and necessary to your business activity and properly supported as to amount, those continue to be listed on Schedule C.

Tom Young

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