2007-01-16 04:06:00 · 3 answers · asked by Latoya J 1 in Business & Finance ➔ Taxes ➔ United States
Sole Proprietors use either (but not both) of the following forms as part of their 1040 individual tax return:
Schedule C (2nd link is instructions)
http://www.irs.gov/pub/irs-pdf/f1040sc.pdf
http://www.irs.gov/pub/irs-pdf/i1040sc.pdf
Schedule C-EZ (instructions included in form)
http://www.irs.gov/pub/irs-pdf/f1040sce.pdf
The net profit (or loss) computes on either form flows over to Line 12 of the 2006 1040; which form you use depends on your circumstances. Check out the following link for an explanation for which form you should use:
2007-01-16 04:38:20 · answer #1 · answered by Anonymous · 0⤊ 0⤋
It is reported on Schedule C.
2007-01-16 12:14:46 · answer #2 · answered by jseah114 6 · 0⤊ 0⤋
On schedule C, or schedule C-EZ if you qualify to use it.
2007-01-16 12:23:30 · answer #3 · answered by Judy 7 · 0⤊ 0⤋