Schedule C (Form 1040) is used by sole proprietors to report income or loss from a business they operated or a profession they practiced as a sole proprietor. It is essential for calculating taxable income and ensuring compliance with IRS regulations for those operating a business as sole proprietors or freelancers.

Sole proprietors and single-member LLCs engaged in business activities.

It is a tax form for reporting income or loss from a business operated as a sole proprietorship.

Individuals who operate a business as sole proprietors or single-member LLCs must fill out this form.

Schedule C is due with your Form 1040, typically by the tax return due date, unless an extension is filed.