Publication 517 |
2008 Tax Year |
Schedule C-EZ (Form 1040) Net Profit From Business (Sole Proprietorship) 2007. Summary: This is an example of Schedule C-EZ (Form 1040) 2007 with items included as described in the text. Additionally,
these line items are
completed:
“Name of proprietor” field contains John E. Michaels
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“Social security number (SSN)” field contains 011-00-2222
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Under
“Part I: General Information”:
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“A. Principal business or profession, including product or service” field contains Minister
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“B. Enter code from pages C-8, 9, & 10” field contains 541990
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“E. Business address (including suite or room number). Address not required if same as on Form 1040, page 1.” field contains 1042 Main
Street
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“City, town or post office, state, and ZIP code” field contains Hometown, Texas 77099
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Under
“Part II: Figure Your Net Profit”:
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“1. Gross receipts. Caution. If this income was reported to you on Form W-2 and the statutory employee box on that form was
checked, see
Statutory Employees in the instructions for Schedule C, line 1, on page C-3 and check here” field contains 4,000
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“2. Total expenses (see instructions). If more than $5,000, you must use Schedule C” field contains 219 Footnote: See Attached
Statement.
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“3. Net profit. Subtract line 2 from line 1. If less than zero, you must use Schedule C. Enter on Form 1040, line 12, and on
Schedule SE, line
2 or on Form 1040NR, line 13. (Statutory employees do not report this amount on Schedule SE, line 2. Estates and trusts, enter
on Form 1041, line
3.)” field contains 3,768
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Under
“Part III: Information on Your Vehicle”:
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“4. When did you place your vehicle in service for business purposes? (month, day, year)” field contains 7/15/2004
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“5. Of the total number of miles you drove your vehicle during 2007, enter the number of miles you used your vehicle for:”
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“a. Business” field contains 445
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“b. Commuting” field contains 0
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“c. Other” field contains 7,247
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“6. Do you (or your spouse) have another vehicle available for personal use? Yes” checkbox checked
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“7. Was your vehicle available for personal use during off-duty hours? Yes” checkbox checked
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“8a. Do you have evidence to support your deduction? Yes” checkbox checked
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“8b. If Yes, is the evidence written? Yes” checkbox checked
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