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Federal Free Printable 2023 Schedule C (Form 1040) for 2024 Federal Profit or Loss from Business (Sole Proprietorship)

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Profit or Loss from Business (Sole Proprietorship)
2023 Schedule C (Form 1040)

SCHEDULE C (Form 1040) Profit or Loss From Business Department of the Treasury Internal Revenue Service OMB No. 1545-0074 2023 (Sole Proprietorship) Attach to Form 1040, 1040-SR, 1040-SS, 1040-NR, or 1041; partnerships must generally file Form 1065. Go to www.irs.gov/ScheduleC for instructions and the latest information. Attachment Sequence No. 09 Name of proprietor Social security number (SSN) A Principal business or profession, including product or service (see instructions) B Enter code from instructions C Business name. If no separate business name, leave blank. D Employer ID number (EIN) (see instr.) E Business address (including suite or room no.) F G City, town or post office, state, and ZIP code Cash (2) Accrual (3) Other (specify) Accounting method: (1) Did you “materially participate” in the operation of this business during 2023? If “No,” see instructions for limit on losses . Yes No H I J If you started or acquired this business during 2023, check here . . . . . . . . . . . Did you make any payments in 2023 that would require you to file Form(s) 1099? See instructions . If “Yes,” did you or will you file required Form(s) 1099? . . . . . . . . . . . . . . . . . Yes Yes No No Part I 1 Income . . . . . . . . . . . . 2 3 4 Gross receipts or sales. See instructions for line 1 and check the box if this income was reported to you on Form W-2 and the “Statutory employee” box on that form was checked . . . . . . . . . Returns and allowances . . . . . . . . . . . . . . . . . . . . . . . . . Subtract line 2 from line 1 . . . . . . . . . . . . . . . . . . . . . . . . Cost of goods sold (from line 42) . . . . . . . . . . . . . . . . . . . . . . 1 2 3 4 5 6 7 Gross profit. Subtract line 4 from line 3 . . . . . . . . . . . . . . . . . Other income, including federal and state gasoline or fuel tax credit or refund (see instructions) . Gross income. Add lines 5 and 6 . . . . . . . . . . . . . . . . . . . . . . 5 6 7 8 Advertising . 9 Car and truck expenses (see instructions) . . . Commissions and fees . Contract labor (see instructions) Office expense (see instructions) . Pension and profit-sharing plans . 18 19 Rent or lease (see instructions): Vehicles, machinery, and equipment Other business property . . . 20a 20b Repairs and maintenance . . . Supplies (not included in Part III) . Taxes and licenses . . . . . 21 22 23 a b Travel and meals: Travel . . . . . . . . . Deductible meals (see instructions) 24a 24b 25 26 27a Utilities . . . . . . . . Wages (less employment credits) Other expenses (from line 48) . . 25 26 27a 17 28 Other . . . . . . 16b b Energy efficient commercial bldgs Legal and professional services 17 deduction (attach Form 7205) . . Total expenses before expenses for business use of home. Add lines 8 through 27b . . . . . . . 27b 28 29 Tentative profit or (loss). Subtract line 28 from line 7 . 30 Expenses for business use of your home. Do not report these expenses elsewhere. Attach Form 8829 unless using the simplified method. See instructions. Simplified method filers only: Enter the total square footage of (a) your home: Part II 10 11 Expenses. Enter expenses for business use of your home only on line 30. . . . . 12 13 Depletion . . . . . Depreciation and section 179 expense deduction (not included in Part III) (see instructions) . . . . 14 Employee benefit programs (other than on line 19) . Insurance (other than health) Interest (see instructions): Mortgage (paid to banks, etc.) 15 16 a b 8 18 19 9 10 11 20 12 21 22 23 13 24 a b 14 15 16a . . . . . . . and (b) the part of your home used for business: Method Worksheet in the instructions to figure the amount to enter on line 30 . . . . . . . . . . . . . . . Use the Simplified . . . . . . . 31 Net profit or (loss). Subtract line 30 from line 29. 32 • If a profit, enter on both Schedule 1 (Form 1040), line 3, and on Schedule SE, line 2. (If you checked the box on line 1, see instructions.) Estates and trusts, enter on Form 1041, line 3. • If a loss, you must go to line 32. If you have a loss, check the box that describes your investment in this activity. See instructions. • If you checked 32a, enter the loss on both Schedule 1 (Form 1040), line 3, and on Schedule SE, line 2. (If you checked the box on line 1, see the line 31 instructions.) Estates and trusts, enter on Form 1041, line 3. • If you checked 32b, you must attach Form 6198. Your loss may be limited. For Paperwork Reduction Act Notice, see the separate instructions. . . . Cat. No. 11334P } } . . . . . . 29 30 31 32a 32b All investment is at risk. Some investment is not at risk. Schedule C (Form 1040) 2023 Page 2 Schedule C (Form 1040) 2023 Part III Cost of Goods Sold (see instructions) 33 Method(s) used to value closing inventory: 34 Was there any change in determining quantities, costs, or valuations between opening and closing inventory? If “Yes,” attach explanation . . . . . . . . . . . . . . . . . . . . . . . . . a b Cost c Lower of cost or market Other (attach explanation) 35 Inventory at beginning of year. If different from last year’s closing inventory, attach explanation . . . 35 36 Purchases less cost of items withdrawn for personal use . . . . . . . . . . . . . . 36 37 Cost of labor. Do not include any amounts paid to yourself . . . . . . . . . . . . . . 37 38 Materials and supplies . . . . . . . . . . . . . . . . . . . . . . . . 38 39 Other costs . . . . . . . . . . . . . . . . . . . . . . . . . 39 40 Add lines 35 through 39 . . . . . . . . . . . . . . . . . . . . . . . . 40 41 Inventory at end of year . . . . . . . . . . . . . . . . . . . . . . . . 41 42 Cost of goods sold. Subtract line 41 from line 40. Enter the result here and on line 4 . . . . . . 42 Part IV . . . Yes . Information on Your Vehicle. Complete this part only if you are claiming car or truck expenses on line 9 and are not required to file Form 4562 for this business. See the instructions for line 13 to find out if you must file Form 4562. / / 43 When did you place your vehicle in service for business purposes? (month/day/year) 44 Of the total number of miles you drove your vehicle during 2023, enter the number of miles you used your vehicle for: a No b Commuting (see instructions) Business c Other 45 Was your vehicle available for personal use during off-duty hours? . . . . . . . . . . . . . . Yes No 46 Do you (or your spouse) have another vehicle available for personal use?. . . . . . . . . . . . . . Yes No 47a Do you have evidence to support your deduction? . . . . . . . . . . . . . . . . . . . . Yes No If “Yes,” is the evidence written? . . . . . . . . . . . . . . . . . . . . Yes No b Part V 48 . . . . . . Other Expenses. List below business expenses not included on lines 8–26, line 27b, or line 30. Total other expenses. Enter here and on line 27a . . . . . . . . . . . . . . . . 48 Schedule C (Form 1040) 2023
Extracted from PDF file 2023-federal-1040-schedule-c.pdf, last modified October 2023

More about the Federal 1040 (Schedule C) Individual Income Tax TY 2023

Individuals who are self-employed or own a business operating as a sole proprietorship that has business expenses of $5,000 or less can file the simpler Schedule C-EZ to report their business income and expenses. If your business has more than $5,000 in business expenses, you must file Schedule C instead.

We last updated the Profit or Loss from Business (Sole Proprietorship) in January 2024, so this is the latest version of 1040 (Schedule C), fully updated for tax year 2023. You can download or print current or past-year PDFs of 1040 (Schedule C) directly from TaxFormFinder. You can print other Federal tax forms here.

Related Federal Individual Income Tax Forms:

TaxFormFinder has an additional 774 Federal income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Federal 1040 (Schedule C).

Form Code Form Name
1040 (Schedule B) Interest and Ordinary Dividends
1040 (Schedule A) Itemized Deductions
1040 (Schedule 8812) Child Tax Credit
1040 (Schedule E) Supplemental Income and Loss
1040 (Schedule SE) Self-Employment Tax
1040 (Schedule D) Capital Gains and Losses
1040 (Schedule F) Profit or Loss From Farming
1040 (Schedule R) Credit for the Elderly or the Disabled
1040 (Schedule EIC) Earned Income Tax Credit
1040 (Schedule H) Household Employment Taxes

Download all  tax forms View all 775 Federal Income Tax Forms


Form Sources:

The Internal Revenue Service usually releases income tax forms for the current tax year between October and January, although changes to some forms can come even later. We last updated Federal 1040 (Schedule C) from the Internal Revenue Service in January 2024.

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About the Individual Income Tax

The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.

Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!

Historical Past-Year Versions of Federal 1040 (Schedule C)

We have a total of thirteen past-year versions of 1040 (Schedule C) in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2023 1040 (Schedule C)

2023 Schedule C (Form 1040)

2022 1040 (Schedule C)

2022 Schedule C (Form 1040)

2021 1040 (Schedule C)

2021 Schedule C (Form 1040)

2020 1040 (Schedule C)

2020 Schedule C (Form 1040)

2019 1040 (Schedule C)

2019 Schedule C (Form 1040 or 1040-SR)

2018 1040 (Schedule C)

2018 Schedule C (Form 1040)

2017 1040 (Schedule C)

2017 Schedule C (Form 1040)

2016 1040 (Schedule C)

2016 Form 1040 (Schedule C)

U.S. Departing Alien Income Tax Return 2015 1040 (Schedule C)

2016 Form 1040-C

U.S. Departing Alien Income Tax Return 2014 1040 (Schedule C)

2015 Form 1040-C

U.S. Departing Alien Income Tax Return 2013 1040 (Schedule C)

2013 Form 1040-C

U.S. Departing Alien Income Tax Return 2012 1040 (Schedule C)

2012 Form 1040-C

U.S. Departing Alien Income Tax Return 2011 1040 (Schedule C)

2012 Form 1040-C


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