Instructions For Schedule C 2024. Specifically, you must report your business income and related expenses on schedule c, profit or loss from business (sole proprietorship). Learn how to complete schedule c for irs form 1040 sole proprietorship, ensuring you report your business income, expenses, and deductions correctly.

To complete irs schedule c—the form most small businesses need to fill out to state their income for tax purposes—you’ll need to know your business income, cost of goods sold, and business expenses. Learn everything you need to know about the schedule c tax form, including how to fill it out, common mistakes to avoid, and tips for maximizing deductions.