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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.
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.
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