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Can I claim this money from a part-time job and SS that I have used in my company on Schedule C (Item 6-"Other Income")?

I am completing Schedule C and want to make sure that the personal money I have invested in my company qualifies as "Other Income" (Item 6)?
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gloriah5200
Expert Alumni

Can I claim this money from a part-time job and SS that I have used in my company on Schedule C (Item 6-"Other Income")?

No, money that you have invested in your Schedule C company will not be considered "other income" to your company.  That is your investment in  your business, such as working money.  Income that is paid to your business from others by working jobs for others is considered income to your business.

 

Only the money you receive from working in your Sch C business (business income) that is in excess of business expenses will increase your overall net income on the Form 1040.

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