Tax Calendar Details

The Irs Schedule C Ez Form is a form used to report income and expenses from a business. This form can be used by sole proprietors, partners in a partnership, or LLC members. The form is simple to complete and provides an overview of the business's income and expenses for the year. Completing this form accurately can help taxpayers minimize their taxes and ensure they are in compliance with tax laws.

The following are some information about irs schedule c ez. You'll have the estimated time you'll need to fill in the form plus some additional details.

QuestionAnswer
Form NameIrs Schedule C Ez
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other namesnet profit from, schedule c generator, section c form, schedule c generator 2019

Form Preview Example

SCHEDULE C-EZ

NET PROFIT FROM BUSINESS

OMB No. 1545-0074

(Form 1040)

(Sole Proprietorship)

2018

 

 

Department of the Treasury

Partnerships, joint ventures, etc., generally must file Form 1065.

Attachment

 

Attach to Form 1040, 1040NR, or 1041. See instructions on page 2.

09A

Internal Revenue Service (99)

Sequence No.

Name of proprietor

 

Social security number (SSN)

 

 

 

 

 

Part I General Information

You may use Schedule C-EZ instead of Schedule C only if you:

Had business expenses of $5,000 or less,

Use the cash method of accounting,

Did not have an inventory at any time during the year,

Did not have a net loss from your business,

Had only one business as either a sole proprietor, qualified joint venture, or statutory employee,

And you:

Had no employees during the year,

Do not deduct expenses for business use of your home,

Do not have prior year unallowed passive activity losses from this business, and

Are not required to file Form 4562, Depreciation and Amortization, for this business. See the instructions for Schedule C, line 13, to find out if you must file.

APrincipal business or profession, including product or service

BEnter business code (see page 2)

CBusiness name. If no separate business name, leave blank.

DEnter your EIN (see page 2)

EBusiness address (including suite or room no.). Address not required if same as on page 1 of your tax return.

City, town or post office, state, and ZIP code

FDid you make any payments in 2018 that would require you to file Form(s) 1099? (see the Instructions for Schedule C) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Yes

No

G If “Yes,” did you or will you file required Forms 1099? . . . . . . . . . . . . . . . . .

Yes

No

Part II Figure Your Net Profit

1Gross receipts. Caution: If this income was reported to you on Form W-2 and the “Statutory employee” box on that form was checked, see Statutory employees in the instructions for

Schedule C, line 1, and check here . . . . . . . . . . . . . . . . . . 2 Total expenses (see page 2). If more than $5,000, you must use Schedule C . . . . . . .

3Net profit. Subtract line 2 from line 1. If less than zero, you must use Schedule C. Enter on both Schedule 1 (Form 1040), line 12, and Schedule SE, line 2, or on Form 1040NR, line 13, and Schedule SE, line 2 (see page 2). (Statutory employees do not report this amount on Schedule SE, line 2.) Estates and trusts, enter on Form 1041, line 3. . . . . . . . . . . . . . .

1

2

3

Part III Information on Your Vehicle. Complete this part only if you are claiming car or truck expenses on line 2.

4 When did you place your vehicle in service for business purposes? (month, day, year)

.

5Of the total number of miles you drove your vehicle during 2018, enter the number of miles you used your vehicle for:

a

Business

b Commuting (see page 2)

c

Other

 

6

Was your vehicle available for personal use during off-duty hours?

.

. . . . .

Yes

7

Do you (or your spouse) have another vehicle available for personal use?

.

. . . . .

Yes

8a

Do you have evidence to support your deduction?

.

. . . . .

Yes

b

If “Yes,” is the evidence written?

.

. . . . .

Yes

No

No

No

No

For Paperwork Reduction Act Notice, see the separate instructions for Schedule C (Form 1040).

Cat. No. 14374D

Schedule C-EZ (Form 1040) 2018

Schedule C-EZ (Form 1040) 2018

Page 2

 

 

Instructions

Future developments. For the latest information about developments related to Schedule C-EZ (Form 1040) and its instructions, such as legislation enacted after they were published, go to www.irs.gov/ScheduleCEZ.

!

Before you begin, see General Instructions in the 2018

Instructions for Schedule C.

CAUTION

You can use Schedule C-EZ instead of Schedule C if:

You operated a business or practiced a profession as a sole proprietorship or qualified joint venture, or you were a statutory employee, and

You have met all the requirements listed in Schedule C-EZ, Part I.

For more information on electing to be taxed as a qualified joint venture (including the possible social security benefits of this election), see Qualified Joint Venture in the Instructions for Schedule C. You can also go to www.irs.gov/QJV.

Line A

Describe the business or professional activity that provided your principal source of income reported on line 1. Give the general field or activity and the type of product or service.

Line B

Enter the six-digit code that identifies your principal business or professional activity. See the Instructions for Schedule C for the list of codes.

Line D

Enter on line D the employer identification number (EIN) that was issued to you and in your name as a sole proprietor. If you are filing Form 1041, enter the EIN issued to the estate or trust. Do not enter your SSN. Do not enter another taxpayer’s EIN (for example, from any Forms 1099-MISC that you received). If you do not have an

EIN, leave line D blank.

You need an EIN only if you have a qualified retirement plan or are required to file an employment, excise, alcohol, tobacco, or firearms tax return, are a payer of gambling winnings, or are filing Form 1041 for an estate or trust. If you need an EIN, see the Instructions for Form SS-4.

Single-member LLCs. If you are the sole owner of an LLC that is not treated as a separate entity for federal income tax purposes, enter on line D the EIN that was issued to the LLC (in the LLC’s legal name) for a qualified retirement plan, to file employment, excise, alcohol, tobacco, or firearms returns, or as a payer of gambling winnings. If you do not have such an EIN, leave line D blank.

Line E

Enter your business address. Show a street address instead of a box number. Include the suite or room number, if any.

Line F

See the instructions for Schedule C, line I, to help determine if you are required to file any Forms 1099.

Line 1

Enter gross receipts from your trade or business. Include amounts you received in your trade or business that were properly shown on Form 1099-MISC. If the total amounts that were reported in box 7 of Forms 1099-MISC are more than the total you are reporting on line 1, attach a statement explaining the difference. You must show all items of taxable income actually or constructively received during the year (in cash, property, or services). Income is constructively received when it is credited to your account or set aside for you to use. Don’t offset this amount by any losses.

Line 2

Enter the total amount of all deductible business expenses you actually paid during the year. Examples of these expenses include advertising, car and truck expenses, commissions and fees, insurance, interest, legal and professional services, office expenses, rent or lease expenses, repairs and maintenance, supplies, taxes, travel, the allowable percentage of business meals and entertainment, and utilities (including telephone). For details, see the instructions for Schedule C, Parts II and V. You can use the optional worksheet below to record your expenses. Enter on lines b through f the type and amount of expenses not included on line a.

If you claim car or truck expenses, be sure to complete Schedule C-EZ, Part III.

Line 3

Nonresident aliens using Form 1040NR should also enter the total on Schedule SE, line 2, if you are covered under the U.S. social security system due to an international social security agreement currently in effect. See the Instructions for Schedule SE for information on international social security agreements.

Line 5b

Generally, commuting is travel between your home and a work location. If you converted your vehicle during the year from personal to business use (or vice versa), enter your commuting miles only for the period you drove your vehicle for business. For information on certain travel that is considered a business expense rather than commuting, see the instructions for Schedule C, line 44b.

Optional Worksheet for Line 2 (keep a copy for your records)

a Deductible meals (see the instructions for Schedule C, line 24b) . . . . . . . . . . . . .

a

b

b

c

c

d

d

e

e

f

f

g Total. Add lines a through f. Enter here and on line 2 . . . . . . . . . . . . . . . .

g

Schedule C-EZ (Form 1040) 2018

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