| Pub. 587, Business Use of Your Home |
2004 Tax Year |
This is archived information that pertains only to the 2004 Tax Year. If you
are looking for information for the current tax year, go to the Tax Prep Help Area.
Schedule C (Form 1040) Profit or Loss from Business 2004. Summary: This is a sample of the 2004 Schedule C (Form 1040) with line items included as described in the text. Additionally,
the following
line items are included:
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“Name of proprietor” field contains John Stephens
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“Social security number” field contains 465-00-0001
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“A. Principal business or profession, including product or service (see page C-1 of the instructions)” field contains Tax Preparation
Services
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“B. Enter code from pages C-7, 8, & 9” field contains 541213
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“C. Business name. If no separate business name, leave blank.” field contains Stephens Tax Service
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“E. Business address (including suite or room number)” field contains 821 Union Street
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“City, town or post office, state, and ZIP code” field contains Hometown, Iowa 52761
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“F. Accounting method: (1) Cash” checkbox checked
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“G. Did you materially participate in the operation of this business during 2004? If No, see page C-3 for limit on losses:
Yes”
checkbox checked
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Under
“Part I: Income”:
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“1. Gross receipts or sales. Caution. If this income was reported to you on Form W-2 and the Statutory employee box on that
form was checked,
see page C-3 and check here” field contains 34,280
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“2. Returns and allowances” field contains 0
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“3. Subtract line 2 from line 1” field contains 34,280
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“4. Cost of goods sold (from line 42 on page 2)” field contains 0
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“5. Gross profit. Subtract line 4 from line 3” field contains 34,280
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“6. Other income, including Federal and state gasoline or fuel tax credit or refund (see page C-3)” field contains 0
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“7. Gross income. Add lines 5 and 6” field contains 34,280
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Under
“Part II: Expenses. Enter expenses for business use of your home only on line 30”:
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“8. Advertising” field contains 250
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“9. Car and truck expenses (see page C-3)” field contains 1,266
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“15. Insurance (other than health)” field contains 750
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“16b. Interest: other” field contains 200
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“17. Legal and professional services” field contains 350
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“18. Office expense” field contains 600
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“22. Supplies (not included in Part III)” field contains 253
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“24a. Travel, meals, and entertainment: Travel” field contains 310
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“24b. Travel, meals, and entertainment: Meals and entertainment” field contains 512
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“24c. Travel, meals, and entertainment: Enter nondeductible amount included on line 24b (see page C-5)” field contains 256
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“24d. Travel, meals, and entertainment: Subtract line 24c from line 24b” field contains 256
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“27. Other expenses (from line 48 on page 2)” field contains 267
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“28. Total expenses before expenses for business use of home. Add lines 8 through 27 in columns” field contains 8,728
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“29. Tentative profit (loss). Subtract line 28 from line 7” field contains 25,552
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“31. Net profit or (loss). Subtract line 30 from line 29.” field contains
24,071
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