Tax forms

Schedule C

Schedule C, Profit or Loss from Business, is the form a sole proprietor or a single-member LLC files with Form 1040 to report the business's income, expenses and cost of goods sold.

Reviewed November 3, 2026

Why it matters

Schedule C decides the business's taxable profit and the self-employment tax. The expense records behind it, from receipts to mileage, are the support the client needs if the return is questioned.

Example

A freelance designer receives 1099-NEC forms and pays for software and a home office. The designer reports the income and the expenses on Schedule C and carries the net profit to Form 1040.

Related terms

Questions about Schedule C

Who files Schedule C?

A sole proprietor or a single-member LLC that has not elected corporate treatment files Schedule C. A partnership, S corporation or C corporation files its own business return instead.

Sources

IRS: About Schedule C

Checked November 3, 2026. Public pages and tax rules change; confirm them before relying on them.

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