Navigating Form 1040 Schedule C

Overview

The gig economy, involving various alternative work arrangements, engages 36% of U.S. workers, with 29% having it as their primary job. This shift impacts tax preparers’ need to prepare Schedule C. This course helps tax professionals address common Schedule C questions, covering proprietor income and deductible expenses (excluding home business use) on Part II of Schedule C (Form 1040).

Find this course for your license

License or Certification

Regulator

Objectives

Identify the types of income reported on Schedule C
Determine proprietors' installment sale income when using the installment method
Pinpoint the business expenses deductible on Schedule C
Isolate the differences between a business and a hobby
Apply the rules governing the deduction for business use of a taxpayer's home

Tax Year: 2023-2024

Designed For:

CPAs, EAs, and other tax professionals

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Course Information

Adding additional credit may change exam requirements.

Advanced Preparation:

None

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