This checklist outlines the information and documents typically needed to complete IRS Schedule C. Preparing these items in advance helps ensure that business income and expenses are reported accurately and consistently with the structure of the form and the official instructions.
Business Identification Information
Schedule C requires basic identifying details about the business activity. This includes the business name if one is used, the principal business or profession, and the accounting method applied to the activity. How this information fits into the overall form is explained in How to Complete IRS Schedule C.
Income Records
Records showing gross receipts or sales for the year are needed to complete the income section of Schedule C. These records support the amounts reported as business income. A detailed explanation of what constitutes gross receipts is provided in Gross Receipts and Business Income.
Expense Documentation
Documentation for ordinary and necessary business expenses is used to complete the expense sections of Schedule C. Expenses are reported using standardized categories on the form. How expenses are defined and grouped is explained in Business Expenses in Schedule C.
Inventory and Cost Information
If the business involves products, information related to inventory and direct costs is needed to calculate cost of goods sold. How these amounts are reported is explained in Cost of Goods Sold in Schedule C.
Vehicle and Other Supporting Information
Additional information may be required for specific sections of Schedule C, such as vehicle use details or other expenses that do not fit standard categories. These sections support expense reporting and are described in the official instructions.
Before Filing
Once information is gathered, Schedule C is completed and included with Form 1040. How Schedule C fits into the individual return is explained in How Schedule C Relates to Form 1040. Filing timing considerations are covered in Schedule C Due Date.
Related Guidance and Reference
Illustrative form layouts are shown in Schedule C Examples. A general overview of Schedule C is available in IRS Schedule C Overview, and the official form and instructions issued by the Internal Revenue Service are available in the reference entry at IRS Form 1040 Schedule C.