On which tax form does the owner of a proprietorship report net income of the business?

Answer 1

Owners of a sole proprietorship don't report the Net Income of their business because the business is a Flow-through Entity. He or she reports their OWN income on Schedule C of their 1040. A flow-through entity (like partnerships, S corporations or LLCs) are subject to one level of taxation. They file tax returns for information but don't pay money.

Answer 2

Schedule C