Tuesday Tax Tip - Schedule C or C-EZ

Schedule C or C-EZ. Self-employed taxpayers must file a Schedule C, Profit or Loss from Business, or Schedule C-EZ, Net Profit from Business, with their Form 1040. For expenses less than $5,000, use Schedule C-EZ. Each form’s instructions provide the rules for which form to use.

NOTE: For tax year 2019 and later, you will no longer use Schedule C-EZ, but instead use the Schedule C.