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General Information
- What is the form number? Form 1040 Schedule C
- What government agency is it filed with? The Internal Revenue Service (IRS)
- What is the form name? Profit or Loss from Business
- What is this form about? Schedule C is a supplemental form associated with Form 1040 that U.S. taxpayers use to report income or losses from a sole proprietorship or single-member LLC. It provides spaces for detailing revenue, costs of goods sold, expenses, and the net profit or loss from the business. The results from Schedule C are then transferred to the main Form 1040 and contribute to the taxpayer's overall income or loss for the year.
What does it look like?
Resources
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Looking for more information about this or other tax forms? The tax team at DiMercurio Advisors are tax compliance experts. We are passionate about ensuring you are well-informed and in control of your tax situation.