Schedule C (Form 1040)

Profit or Loss From Business (Sole Proprietorship)

Plain-English answer: Schedule C reports income and expenses from a business operated as a sole proprietor or certain other activities described by the IRS.

Why did I get Schedule C (Form 1040)?

A self-employed person may use it with an individual tax return to report business profit or loss.

What do I do next?

Keep good income and expense records and use the current form and instructions for the tax year involved.

Does Schedule C (Form 1040) need to be notarized?

No.

Where does it go?

Filed with the applicable federal income tax return.

Official sourcehttps://www.irs.gov/forms-pubs/about-schedule-c-form-1040

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