Schedule c personal

Forum|Forum|7 years ago
June 5, 2019
1 reply
9 views

my former wife did my taxes previously and as a H&R block specialist, she always used schedule c due to our income level I believe and that as a small business owner, she said that is what I needed.

TurboTax Self Employed Online

Best answer by

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.

On returns that only require Schedule C-EZ, TurboTax also generates a Schedule C, but this is only used for calculation purposes and isn't filed with the return.

Related Information:

Anonymous

Answer

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.

On returns that only require Schedule C-EZ, TurboTax also generates a Schedule C, but this is only used for calculation purposes and isn't filed with the return.

Related Information: