MarilynG1
Expert Alumni

Deductions & credits

Your franchise main office may provide guidance for you regarding reporting your Business Income and Business Expenses.

 

Type 'schedule c' in the Search area, then click on 'Jump to schedule c' to get to this section. 

 

Royalty Payments could be considered 'Uncommon Income'; you can enter a description of the income item. 

 

Franchise Note Payments could be considered 'Other Expenses', where you can type in a description of the expense item. 

 

Click this link for general info on Reporting Business Income and Expenses

 

The IRS provides extensive guidance at the Small Businesses and Self-Employed Tax Center. 

 

 

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