What is Schedule C?
The IRS form sole proprietors and single-member LLCs use to report business income and expenses. The result is your business profit.
Schedule C, “Profit or Loss From Business”, is the form US sole proprietors attach to their Form 1040. Single-member LLCs usually file it too. It lists your business income, then your expenses, line by line. What’s left is your net profit, which flows into your income tax and your self-employment tax.
What goes on it
- Income: everything clients paid you, including amounts on 1099-NEC forms and payments that came without one.
- Expenses, grouped into lines such as advertising, car and truck expenses, contract labor, insurance, office expense, supplies, travel, and meals.
- Home office on line 30, if you qualify.
Good records matter more than the form itself. See How to track freelance expenses for Schedule C.
In Kibble
Kibble sorts every business expense by Schedule C line, adds mileage and the simplified home office deduction, and builds a year-end ZIP with a Schedule C summary for your accountant. See Mileage and home office.
This is a plain-words definition, not tax advice.
Questions people ask
Do I need a Schedule C if I only freelance on the side?
Usually, yes. If you earn self-employment income, even alongside a job, you generally report it on Schedule C. An accountant can confirm for your situation.
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