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Deductions & credits
Ok ... there is no such thing as "Business Expenses vs. The Standard Deduction" on a tax return ... on the Sch C you are required to report ALL income and expenses for any self employment on the Sch C period. There is no wiggle room on this point no matter the size of the business.
Then after you have completed the income section of the form 1040 you can choose to take the standard or itemized deduction ... this has nothing to do with what happens on the aforementioned Sch C.
‎November 14, 2019
10:22 AM
2,147 Views