AmyC
Expert Alumni

Get your taxes done using TurboTax

Let's back up to income. When you are filling out the schedule C, at the top, it asks for income. In that location, it means total of all revenue from every source. When you are talking to a bank about income - it is Minh's answer above. So sorry for the confusion!

 

You want all income at the top and then list expenses, subcontractors, supplies, etc down under the actual category for each expense. The IRS uses those categories, with your income and location to determine  your audit risk. Let me help with some links for business owners:

Small Business and Self-Employed Tax Center - complete guide

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