Schedule C-EZ (Form 1040), Profit from Business (Sole Proprietorship)

If you are the sole owner of a business or operate as an independent contractor, you will need to file a Schedule C to report income or loss from your business activities.

The IRS does provide a simplified version of Schedule C, known as Schedule C-EZ, that can be used by some sole proprietors, primarily those who work as independent contractors for one or more larger businesses.

If you have $400 or more of business income over and above your expenses, you need to file a Schedule C or C-EZ, and a Schedule SE to pay self-employment tax, even if you would not otherwise have enough income to be required to file a tax return.

Schedule C-EZ (Form 1040), Profit from Business (Sole Proprietorship) (standard .pdf file)

Schedule C-EZ (Form 1040), Profit from Business (Sole Proprietorship) (fill-in .pdf file)

The file is in Adobe portable document format (PDF), which requires the use of Adobe Acrobat Reader.

To get a free version of Adobe Acrobat Reader software, go to the Adobe web site.

For more information, see our discussion of Schedule C-EZ.