![]() Schedule J (Form 1040) to figure your tax by averaging your farming or fishing income over the previous 3 years. Schedule F (Form 1040) to report profit or (loss) from farming. ![]() Schedule E (Form 1040) to report rental real estate and royalty income or (loss) that is not subject to self-employment tax. Schedule A (Form 1040) to deduct interest, taxes, and casualty losses not related to your business. Check with your state and local governments for more information. You may be subject to state and local taxes and other requirements such as business licenses and fees. See the instructions on your Form 1099 for more information about what to report on Schedule C. To report income from a nonbusiness activity, see the instructions for Schedule 1 (Form 1040), line 8j.Īlso, use Schedule C to report (a) wages and expenses you had as a statutory employee (b) income and deductions of certain qualified joint ventures and (c) certain amounts shown on a Form 1099, such as Form 1099-MISC, Form 1099-NEC, and Form 1099-K. For example, a sporadic activity, a not-for-profit activity, or a hobby does not qualify as a business. An activity qualifies as a business if your primary purpose for engaging in the activity is for income or profit and you are involved in the activity with continuity and regularity. Use Schedule C (Form 1040) to report income or (loss) from a business you operated or a profession you practiced as a sole proprietor. 999000-Unclassified establishments (unable to classify). ![]() Sporting Goods, Hobby, Book, Musical Instrument & Miscellaneous Retailers.Building Material & Garden Equipment & Supplies Dealers.Religious, Grantmaking, Civic, Professional, & Similar Organizations.Other Professional, Scientific, & Technical Services.Computer Systems Design & Related Services.Architectural, Engineering, & Related Services.Professional, Scientific, & Technical Services.Nonmetallic Mineral Product Manufacturing.Data Processing, Web Search Portals, & Other Information Services.Broadcasting & Content Providers & Telecommunications.Securities, Commodity Contracts, & Other Financial Investments & Related Activities.Insurance Agents, Brokers, & Related Activities.Credit Intermediation & Related Activities.Heavy and Civil Engineering Construction.Performing Arts, Spectator Sports, & Related Industries.Museums, Historical Sites, & Similar Institutions.Amusement, Gambling, & Recreation Industries.Support Activities for Agriculture & Forestry.Agriculture, Forestry, Hunting, & Fishing.Waste Management & Remediation Services.Administrative & Support and Waste Management & Remediation Services.Accommodation, Food Services, & Drinking Places.Principal Business or Professional Activity Codes.Film and television and live theatrical production expenses.Energy efficient commercial buildings deduction.De minimis safe harbor for tangible property.Deduction for removing barriers to individuals with disabilities and the elderly.Changing your method of accounting for inventory.Financial accounting treatment of inventories. ![]()
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