What is a Schedule C?

Use Schedule C (Form 1040) to report income or loss from a business you operated or a Profit or Loss profession you practiced as a sole proprietor. An activity qualifies as a business if your primary purpose for engaging in the activity is for income or profit and you are involved in From Business the activity with continuity and regularity. For example, a sporadic activity or a hobby does not qualify as a business. To report income from a non-business activity, see the instructions for Form 1040, line 21.

Category: 
Verification Questions