Completing A Schedule C

65 STEPS

1. The first step is to open the tax return and scroll in the All Forms List

2. Click Schedule C

3. Alternatively, You can Type Schedule C in the Forms Search and click Schedule C

4. click ADD NEW

5. Type Principal Business and Press Tab

6. Type Product or Service

7. Click Pick From List to select the Business Code

8. Scroll down under Main Business Category

9. Click Main Business Category

10. Click Sub Business Category

11. Click Save

12. Type Gross Receipts not reporting to a W2, 1099 MISC, 1099 NEC or 1099 K

13. Click Save

14. To Add From 1099-NEC Type 1099-NEC in the search box

15. Select Form 1099NEC – Nonemployee Compensation

16. click ADD NEW

17. Type Payer TIN. If it exists in the EIN database then the information below will populate. Otherwise enter the information below.

18. Type in the Nonemployee Compensation

19. To report the amount from box 1 to the Schedule C, Click Pick from list

20. Click SCHEDULE C

21. Click USE

22. Click Save

23. To return to the Schedule C, Click Filed Forms

24. Click Schedule C

25. Click Edit

26. Now you can being entering expenses by typing directly in the field.

27. You can also use the WORKPAD to combine an itemized list. Click the WORKPAD icon.

28. Type Description and Press Tab

29. Type Amount and Press Tab

30. Type Description and Press Tab

31. Type Amount

32. Click Save

33. To entire mileage or actual vehicle expenses. Go to part IV and click ADD NEW

34. Select the month the vehicle was placed in service.

35. Select the day the vehicle was placed in service.

36. Select the year the vehicle was placed in service.

37. Type Total Business Miles

38. Type Total Commuting Miles

39. Type Total Other Miles

40. Answer Yes or No on line 45.

41. Answer Yes or No on line 46.

42. Answer Yes or No on line 47a.

43. Answer Yes or No on line 47b.

44. Click Save

45. To enter Actual Expenses, Click Actual Vehicle Expenses.

46. Type Expenses

47. Click Save

48. To add Depreciation, click Form 4562 on line 13

49. Click ADD NEW

50. Click Pick From List

51. Click SCHEDULE C

52. Click USE

53. To depreciate non-vehicle property, click ADD NEW

54. Type Property Description

55. Select the month the property was placed in service.

56. Select the day the property was placed in service.

57. Select the month the year was placed in service.

58. Type Cost or Other Basis

59. Click Help Me

60. Select the Asset Class for the property

61. Click Apply & Close

62. click Save to close the asset

63. click Save to close the 4562

64. To return to the Schedule C, Click Schedule C on the Filed Forms list

65. That’s It, You’re done.