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SCHEDULE C (Form 1040) Department of the Treasury Internal Revenue Service Profit or Loss From Business (Sole Proprietorship) Attach to Form 1040, 1040-SR, 1040-SS, 1040-NR, or 1041; partnerships must generally file Form 1065. Go to www.irs.gov/ScheduleC for instructions and the latest information. OMB No. 1545-0074. 2023. Attachment Sequence ...
For 2023, Schedule C (Form 1040) is available to be filed with Form 1040-SS, if applicable. It replaces Form 1040-SS, Part IV. For additional information, see the Instructions for Form 1040-SS.
Information about Schedule C (Form 1040), Profit or Loss from Business, used to report income or loss from a business operated or profession practiced as a sole proprietor; includes recent updates, related forms, and instructions on how to file.
Use Schedule C to calculate whether your business had a taxable profit or a deductible loss. List your business income in Part I, including sales for the year, amounts reported on 1099 forms you receive, value of barters, recovered bad debts, and any interest earned.
You can find the fillable form here: IRS Schedule C: Profit or Loss From Business. Further reading: Sole Proprietorship Taxes (A Simple Guide) Do I need to file Schedule C? If you are a sole proprietor, you’ll likely need to file Schedule C—and you’ll need to file a separate one for each business if you have more than one.
To make things a little easier when record-keeping and filing your self-employed taxes, you can report closely related activities together on one Schedule C. However, if you make income from two or more unrelated activities, you must report them all on separate Schedule Cs.
Download or print the 2023 Federal Schedule C Instructions (Schedule C Instructions) for FREE from the Federal Internal Revenue Service.