Profit or Loss From Business (Sole Proprietorship)
Profit or Loss From Business (Sole Proprietorship)
SCHEDULE C (Form 1040)
Department of the Treasury Internal Revenue Service (99)
Profit or Loss From Business (Sole Proprietorship)
Go to www.irs.gov/ScheduleC for instructions and the latest information. Attach to Form 1040, 1040NR, or 1041; partnerships generally must file Form 1065.
OMB No. 1545-0074
2017 Attachment Sequence No. 09
Name of proprietor Social security number (SSN)
A Principal business or profession, including product or service (see instructions) B Enter code from instructions
C Business name. If no separate business name, leave blank. D Employer ID number (EIN) (see instr.)
E Business address (including suite or room no.)
City, town or post office, state, and ZIP code
F Accounting method: (1) Cash (2) Accrual (3) Other (specify)
G Did you “materially participate” in the operation of this business during 2017? If “No,” see instructions for limit on losses . Yes No
H If you started or acquired this business during 2017, check here . . . . . . . . . . . . . . . . .
I Did you make any payments in 2017 that would require you to file Form(s) 1099? (see instructions) . . . . . . . . Yes No
J If “Yes,” did you or will you file required Forms 1099? . . . . . . . . . . . . . . . . . . . . . Yes No
Part I Income 1 Gross receipts or sales. See instructions for line 1 and check the box if this income was reported to you on
Form W-2 and the “Statutory employee” box on that form was checked . . . . . . . . . 1
2 Returns and allowances . . . . . . . . . . . . . . . . . . . . . . . . . 2
3 Subtract line 2 from line 1 . . . . . . . . . . . . . . . . . . . . . . . . 3
4 Cost of goods sold (from line 42) . . . . . . . . . . . . . . . . . . . . . . 4
5 Gross profit. Subtract line 4 from line 3 . . . . . . . . . . . . . . . . . . . . 5
6 Other income, including federal and state gasoline or fuel tax credit or refund (see instructions) . . . . 6
7 Gross income. Add lines 5 and 6 . . . . . . . . . . . . . . . . . . . . . 7 Part II Expenses. Enter expenses for business use of your home only on line 30.
8 Advertising . . . . . 8
9
Car and truck expenses (see instructions) . . . . . 9
10 Commissions and fees . 10
11 Contract labor (see instructions) 11
12 Depletion . . . . . 12 13
Depreciation and section 179 expense deduction (not included in Part III) (see instructions) . . . . . 13
14
Employee benefit programs (other than on line 19) . . 14
15 Insurance (other than health) 15
16 Interest:
a Mortgage (paid to banks, etc.) 16a
b Other . . . . . . 16b 17 Legal and professional services 17
18 Office expense (see instructions) 18
19 Pension and profit-sharing plans . 19
20 Rent or lease (see instructions):
a Vehicles, machinery, and equipment 20a
b Other business property . . . 20b
21 Repairs and maintenance . . . 21
22 Supplies (not included in Part III) . 22
23 Taxes and licenses . . . . . 23
24 Travel, meals, and entertainment:
a Travel . . . . . . . . . 24a
b
Deductible meals and entertainment (see instructions) . 24b
25 Utilities . . . . . . . . 25
26 Wages (less employment credits) . 26
27 a Other expenses (from line 48) . . 27a
b Reserved for future use . . . 27b
28 Total expenses before expenses for business use of home. Add lines 8 through 27a . . . . . . 28
29 Tentative profit or (loss). Subtract line 28 from line 7 . . . . . . . . . . . . . . . . . 29
30 Expenses for business use of your home. Do not report these expenses elsewhere. Attach Form 8829 unless using the simplified method (see instructions). Simplified method filers only: enter the total square footage of: (a) your home:
and (b) the part of your home used for business: . Use the Simplified
Method Worksheet in the instructions to figure the amount to enter on line 30 . . . . . . . . . 30
31 Net profit or (loss). Subtract line 30 from line 29.
• If a profit, enter on both Form 1040, line 12 (or Form 1040NR, line 13) and on Schedule SE, line 2. (If you checked the box on line 1, see instructions). Estates and trusts, enter on Form 1041, line 3.
• If a loss, you must go to line 32. } 31
32 If you have a loss, check the box that describes your investment in this activity (see instructions).
• If you checked 32a, enter the loss on both Form 1040, line 12, (or Form 1040NR, line 13) and on Schedule SE, line 2. (If you checked the box on line 1, see the line 31 instructions). Estates and trusts, enter on Form 1041, line 3. • If you checked 32b, you must attach Form 6198. Your loss may be limited.
} 32a All investment is at risk. 32b Some investment is not at risk.
For Paperwork Reduction Act Notice, see the separate instructions. Cat. No. 11334P Schedule C (Form 1040) 2017
Schedule C (Form 1040) 2017 Page 2 Part III Cost of Goods Sold (see instructions)
33
Method(s) used to value closing inventory: a Cost b Lower of cost or market c Other (attach explanation)
34
Was there any change in determining quantities, costs, or valuations between opening and closing inventory? If “Yes,” attach explanation . . . . . . . . . . . . . . . . . . . . . . . . . . Yes No
35 Inventory at beginning of year. If different from last year’s closing inventory, attach explanation . . . 35
36 Purchases less cost of items withdrawn for personal use . . . . . . . . . . . . . . 36
37 Cost of labor. Do not include any amounts paid to yourself . . . . . . . . . . . . . . 37
38 Materials and supplies . . . . . . . . . . . . . . . . . . . . . . . . 38
39 Other costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39
40 Add lines 35 through 39 . . . . . . . . . . . . . . . . . . . . . . . . 40
41 Inventory at end of year . . . . . . . . . . . . . . . . . . . . . . . . 41
42 Cost of goods sold. Subtract line 41 from line 40. Enter the result here and on line 4 . . . . . . 42 Part IV Information on Your Vehicle. Complete this part only if you are claiming car or truck expenses on line 9
and are not required to file Form 4562 for this business. See the instructions for line 13 to find out if you must file Form 4562.
43 When did you place your vehicle in service for business purposes? (month, day, year) / /
44 Of the total number of miles you drove your vehicle during 2017, enter the number of miles you used your vehicle for:
a Business b Commuting (see instructions) c Other
45 Was your vehicle available for personal use during off-duty hours? . . . . . . . . . . . . . . . Yes No
46 Do you (or your spouse) have another vehicle available for personal use?. . . . . . . . . . . . . . Yes No
47a Do you have evidence to support your deduction? . . . . . . . . . . . . . . . . . . . . Yes No
b If “Yes,” is the evidence written? . . . . . . . . . . . . . . . . . . . . . . . . . Yes No
Part V Other Expenses. List below business expenses not included on lines 8–26 or line 30.
48 Total other expenses. Enter here and on line 27a . . . . . . . . . . . . . . . . 48
Schedule C (Form 1040) 2017
Version A, Cycle 4
INTERNAL USE ONLY DRAFT AS OF September 20, 2017
2017 Schedule C (Form 1040)
SE:W:CAR:MP
Profit or Loss From Business
SCHEDULE C (Form 1040)
Department of the Treasury Internal Revenue Service (99)
Profit or Loss From Business
(Sole Proprietorship)
Go to www.irs.gov/ScheduleC for instructions and the latest information.
Attach to Form 1040, 1040NR, or 1041; partnerships generally must file Form 1065.
OMB No. 1545-0074
2017
- Catalog Number 11334P.
Attachment
Sequence No. 09
Attachment Sequence Number 09. For Paperwork Reduction Act Notice, see the separate instructions.
B Enter code from instructions
E
F
Accounting method:
(1)
(2)
(3)
G
Did you “materially participate” in the operation of this business during 2017? If “No,” see instructions for limit on losses
H
If you started or acquired this business during 2017, check here
I
Did you make any payments in 2017 that would require you to file Form(s) 1099? (see instructions)
J
If “Yes,” did you or will you file required Forms 1099?
Part I
Income
1
Gross receipts or sales. See instructions for line 1 and check the box if this income was reported to you on Form W-2 and the “Statutory employee” box on that form was checked
1
2
Returns and allowances
2
3
Subtract line 2 from line 1
3
4
Cost of goods sold (from line 42)
4
5
Gross profit. Subtract line 4 from line 3
5
6
Other income, including federal and state gasoline or fuel tax credit or refund (see instructions)
6
7
Gross income. Add lines 5 and 6
7
Part II
Expenses. Enter expenses for business use of your home only on line 30.
8
Advertising
8
9
Car and truck expenses (see instructions)
9
10
Commissions and fees
10
11
Contract labor (see instructions)
11
12
Depletion
12
13
Depreciation and section 179 expense deduction (not included in Part III) (see instructions)
13
14
Employee benefit programs (other than on line 19)
14
15
Insurance (other than health)
15
16
Interest:
a
Mortgage (paid to banks, etc.)
16a
b
Other
16b
17
Legal and professional services
17
18
Office expense (see instructions)
18
19
Pension and profit-sharing plans
19
20
Rent or lease (see instructions):
a
Vehicles, machinery, and equipment
20a
b
Other business property
20b
21
Repairs and maintenance
21
22
Supplies (not included in Part III)
22
23
Taxes and licenses
23
24
Travel, meals, and entertainment:
a
Travel
24a
b
Deductible meals and
entertainment (see instructions)
24b
25
Utilities
25
26
Wages (less employment credits)
26
27
a
Other expenses (from line 48)
27a
b
Reserved for future use
27b
28
Total expenses before expenses for business use of home. Add lines 8 through 27a
28
29
Tentative profit or (loss). Subtract line 28 from line 7
29
30
Expenses for business use of your home. Do not report these expenses elsewhere. Attach Form 8829 unless using the simplified method (see instructions).
. Use the Simplified
Method Worksheet in the instructions to figure the amount to enter on line 30
30
31
Net profit or (loss). Subtract line 30 from line 29.
• If a profit, enter on both Form 1040, line 12 (or Form 1040NR, line 13) and on Schedule SE, line 2. (If you checked the box on line 1, see instructions). Estates and trusts, enter on Form 1041, line 3.
• If a loss, you must go to line 32.
}
31
32
If you have a loss, check the box that describes your investment in this activity (see instructions).
• If you checked 32a, enter the loss on both Form 1040, line 12, (or Form 1040NR, line 13) and on Schedule SE, line 2. (If you checked the box on line 1, see the line 31 instructions). Estates and trusts, enter on Form 1041, line 3.
• If you checked 32b, you must attach Form 6198. Your loss may be limited.
}
32a
32b
For Paperwork Reduction Act Notice, see the separate instructions.
Cat. No. 11334P
Schedule C (Form 1040) 2017
Schedule C (Form 1040) 2017
Page 2
Part III
Cost of Goods Sold (see instructions)
33
Method(s) used to
value closing inventory:
a
b
c
34
Was there any change in determining quantities, costs, or valuations between opening and closing inventory?
If “Yes,” attach explanation
35
Inventory at beginning of year. If different from last year’s closing inventory, attach explanation
35
36
Purchases less cost of items withdrawn for personal use
36
37
Cost of labor. Do not include any amounts paid to yourself
37
38
Materials and supplies
38
39
Other costs
39
40
Add lines 35 through 39
40
41
Inventory at end of year
41
42
Cost of goods sold. Subtract line 41 from line 40. Enter the result here and on line 4
42
Part IV
Information on Your Vehicle. Complete this part only if you are claiming car or truck expenses on line 9 and are not required to file Form 4562 for this business. See the instructions for line 13 to find out if you must file Form 4562.
43
When did you place your vehicle in service for business purposes? (month, day, year)
44
Of the total number of miles you drove your vehicle during 2017, enter the number of miles you used your vehicle for:
a
45
Was your vehicle available for personal use during off-duty hours?
46
Do you (or your spouse) have another vehicle available for personal use?
47
a
Do you have evidence to support your deduction?
b
If “Yes,” is the evidence written?
Part V
Other Expenses. List below business expenses not included on lines 8–26 or line 30.
48
Total other expenses. Enter here and on line 27a
48
Schedule C (Form 1040) 2017
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