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State tax filing
Schedule C determines the net profit (or loss) from your sole proprietor business. The net profit (or loss) is then applied to your Form 1040. Thus you may not receive a dollar-for-dollar benefit from a single line item expense on your Schedule C.
**Answers are correct to the best of my ability but do not constitute tax or legal advice.
‎August 26, 2024
9:58 AM