Sole proprietors have to prepare Form 1040 (Schedule C) to report the income for the tax year and deductible expenses. This document also known as Profit or Loss from Business is important for owners of a small business and for sole proprietors of a limited liability company.
It is required to provide a separate sample for each organization you own.
Schedule C has to be attached to the 1040 Form and forwarded to the Internal Revenue Service.
You may find the appropriate template on the internet and complete it online. Enter the necessary information into fillable fields, add your signature and share the file via email, fax or sms.
Search for the appropriate fillable blank. Open it from any internet connected device. Read the instructions below in order to complete the template correctly.
Download the document to your device and forward it to the Internal Revenue Service. If necessary, print out the blank and fill it out by hand.