What is a schedule C form

Who needs Schedule C (Form 1040)?

The Schedule C (Form 1040) is necessary for business owners, or “sole proprietors”. A sole proprietor is a business owner with no employees or partners, such as a freelance photographer.

If you earned money from a hobby or other sporadic activity, that does not count as a business.

What is Schedule C (Form 1040) for?

The form is for small business owners, sole proprietors, statutory employees, and anyone with miscellaneous income to report their business’ income or loss.

What information do you need when you file the Schedule C (Form 1040)?

The the Schedule C (Form 1040) can require many different pieces of information. It really depends on how your business operates. At the very least, you will need:

Your contact information such as phone number, full mailing address, etc.

Your business’ contact information

Your social security number, and your business’ tax ID

Your financial records for the year

Your filled out 1040 tax return

Is Schedule C (Form 1040) accompanied by other forms?

While the Schedule C (Form 1040) does not require other forms itself, you may be required to fill out related forms.

When is Schedule C (Form 1040) due?

Your 1040 schedule C form is due at the same time as your tax return, on April 15th every year