Net Profit from Business

Form 1040 Schedule C-EZ: Net Profit from Business

Use Tax Form 1040 Schedule C-EZ: Net Profit from Business as a stand alone tax form calculator to quickly calculate specific amounts for your 2023 tax return.

Schedule C-EZ: Net Profit from Business

Part I General Information	Please note that this online version of Schedule C-EZ differs from the standard IRS Schedule C-EZ to allow the tax form calculator to ascertain whether to use Schedule C or Schedule C-EZ when calculating related tax amounts.
	Q1.	Do any of these apply to your business: • 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	Yes	No
	Q2.	Do any of these apply to your business: • 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	Yes	No
	F	Did you make any payments in 2016 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

You do not meet the criterea to use schedule C-EZ, please complete Schedule C 🖩.

Part II Figure Your Net Profit	1	Gross 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 .	1
	2	Total expenses (see page 2). If more than $5,000, you must use Schedule C 🖩	2
	3	Net profit. Subtract line 2 from line 1. If less than zero, you must use Schedule C 🖩. Enter on both 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	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) ▶
	5	Of the total number of miles you drove your vehicle during 2016, enter the number of miles you used your vehicle for:     44a Business     44b Commuting (see instructions)     44c Other
	6	Was your vehicle available for personal use during off-duty hours?	Yes	No
	7	Do you (or your spouse) have another vehicle available for personal use?	Yes	No
	8a	Do you have evidence to support your deduction?	Yes	No
	8b	If “Yes,” is the evidence written?	Yes	No

Worksheet for Line 2 (keep a copy for your records)	a	Deductible meals and entertainment (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

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