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Form 1040 (Schedule C-EZ) and Form 1040: Basics

1

What Is Schedule C? Who Can File and How to File for Taxes

The business or profession must be your principal place of business in U.S. It cannot be a related business controlled by you or a corporation you own. The IRS also uses Schedule C to report your adjusted gross income — your total taxable income that is earned in the U.S. However, it's important to note that this amount will be higher than the amount reported on Form 1040, as it also includes self-employment income. If you are a sole proprietor, Schedule C applies if you operate a real estate-related business, whether such business is operated in the United States or overseas. If you operate a rental property business — including those of an investment nature — Schedule C applies. The business must be your principal place of business in U.S. If you run a business that is not primarily a sole proprietorship, Schedule C applies only if you're a professional. A professional can be you, a partner, an employee or a board member of a business. A professional also includes an independent contractor. Schedule C is filed electronically on IRS.gov or by calling 1-800-TAX-FORM (). For more information about Schedule C, see the Instructions for Schedule C and Use our Electronic Application, or, if you file Form 1040NR, File Your Return via e-File. Schedule C is also filed separately on your separate return. If you're not sure about the filing status, contact the IRS before filing Schedule C. File Your Return Entering Schedules A-C You may file either a paper or electronic return, which is the same thing. If you file via paper, you'll need to complete two separate paper forms. First, you'll want to choose your filing status. If you are not filing as sole proprietor, a Schedule C with self-employment income or a Schedule C with other income is still required. Your filing status will determine the other forms you need to bring. If you are filing as a sole proprietor, you'll be required to sign the Schedule C. This process can be done online. If you are filing Form 1040NR or Form 1040NR-EZ, you must sign either a section E or a section I — I or a letter from your tax practitioner indicating that you are a sole proprietor. You will be expected to complete both the schedule C and the Schedule A.

2

Form 1040: U.S. Individual Tax Return Definition, Types, and Use

A “tax return,” then, must be submitted to the IRS by an individual filing taxes for the year. This form is sent to the IRS by a taxpayer during the taxpayer's monthly tax response period, which is the time from the due date of filing the return to the payment of all the taxes due. The IRS uses its own rules when it determines which taxpayers fall within the monthly tax response period. Forms for Forms 1040 (Tax Returns) and 1040NR Use Form 1040, which can be mailed to the IRS or mailed to the address on the form. Form 1040 (Tax Returns) or Form 1040NR (NR1040NR) Form 1040, or Form 1040NR, can be sent to a tax processing facility in one of the following ways: The taxpayer can mail both forms directly to the IRS. Mail the form with an itemized statement of income and expenses to the address on the form. (See U.S. Filing Tips at page 7 for information on mailing the form in person.) Mail the form with an itemization statement of income and expenses to the address on the form. The taxpayer also can mail the form electronically to the address on the form using the IRS' Secure Access for E-File Users (SAFE) service. . The IRS can mail both forms directly to the taxpayer. Mail the form with an itemized statement of income and expenses to the address on the form. The taxpayer also can mail the form electronically to the address on the form within 3 or 45 days of the taxpayer's filing due date. To help taxpayers with complicated transactions, or who have questions about mailers for electronic filing, ask them about the Electronic Data Retrieval Service (EARS) (Form W-6). Forms for Forms 1120, 1040A and 1040NR Use Form 1120, which can be mailed to the IRS or mailed to the address on the form. Form 1120 (Tax Forms) In some cases, taxpayers may still want to complete one form for both the 1040 and the 1120 form that the taxpayers filed using a different address on the 1040. Form 1120 should not be used only if the taxpayer did not use a different address on the 1040 and the 1120 forms. When filing the 1040 and 1120 together, send both forms as a single PDF, not one single file.

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