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A food truck business and a software business should be reported separately on two different Schedule Cs.
If the products or services of the two businesses were more closely related, then they could be on a single Schedule C.
Thank you Annette!
So to be sure - even though the software business and food truck are under the same EIN (food truck is as a DBA) they should still be split out into 2 Schedule Cs. Correct?
If this is how I should proceed, the only wrinkle is my vehicle which I use for both my software business and food truck business. Do I just enter the vehicle twice, once under each Schedule C?
Yes, you cannot combine the two businesses on a single Schedule C because there are completely different businesses.
You would enter your vehicle information on each Schedule C in order to be able to take the expenses.
Thank you Patti! Makes sense and I prefer to do it this way, and hopefully doing it like this paints a clearer picture for the IRS.
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