Schedule C (Form 1040) Profit or Loss from Business 2005. Summary: This is a sample of the 2005 Schedule C (Form 1040) with line items included as described in the text. Additionally,
the following
line items are included:
|
“Name of proprietor” field contains John Stephens
|
|
“Social security number” field contains 465-00-0001
|
|
“A. Principal business or profession, including product or service (see page C-1 of the instructions)” field contains Tax Preparation
Services
|
|
“B. Enter code from pages C-7, 8, & 9” field contains 541213
|
|
“C. Business name. If no separate business name, leave blank.” field contains Stephens Tax Service
|
|
“E. Business address (including suite or room number)” field contains 821 Union Street
|
|
“City, town or post office, state, and ZIP code” field contains Hometown, Iowa 52761
|
|
|
“F. Accounting method: (1) Cash” checkbox checked
|
|
“G. Did you materially participate in the operation of this business during 2005? If No, see page C-3 for limit on losses:
Yes”
checkbox checked
|
|
Under
“Part I: Income”:
|
|
“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
|
|
“2. Returns and allowances” field contains 0
|
|
“3. Subtract line 2 from line 1” field contains 34,280
|
|
“4. Cost of goods sold (from line 42 on page 2)” field contains 0
|
|
“5. Gross profit. Subtract line 4 from line 3” field contains 34,280
|
|
“6. Other income, including Federal and state gasoline or fuel tax credit or refund (see page C-3)” field contains 0
|
|
“7. Gross income. Add lines 5 and 6” field contains 34,280
|
|
|
Under
“Part II: Expenses. Enter expenses for business use of your home only on line 30”:
|
|
“8. Advertising” field contains 250
|
|
“9. Car and truck expenses (see page C-3)” field contains 1,266
|
|
“13. Depreciation and section 179 expense deduction (not included in Part III) (see page C-4)”field contains 3,879
|
|
“15. Insurance (other than health)” field contains 750
|
|
“16b. Interest: other” field contains 200
|
|
“17. Legal and professional services” field contains 350
|
|
“18. Office expense” field contains 600
|
|
“22. Supplies (not included in Part III)” field contains 253
|
|
“24a. Travel, meals, and entertainment: Travel” field contains 310
|
|
“24b. Travel, meals, and entertainment: Meals and entertainment” field contains 256
|
|
“25. Utilities”field contains 347
|
|
“27. Other expenses (from line 48 on page 2)” field contains 267
|
|
“28. Total expenses before expenses for business use of home. Add lines 8 through 27 in columns” field contains 8,728
|
|
“29. Tentative profit (loss). Subtract line 28 from line 7” field contains 25,552
|
|
“30. Expenses for business use of your home. Attach Form 8829”field contains 1,481
|
|
“31. Net profit or (loss). Subtract line 30 from line 29.” field contains
24,071
|
|
|
