Schedule C
The IRS form where a sole proprietor or single-member LLC reports business profit or loss. The app maps your accounts to its lines.
In Solo Superstars
Under Accounting › Tax filing. Each default expense account carries its Schedule C line; renamed or new accounts can be mapped. Meals are shown at the deductible share; non-deductible entertainment is excluded.
Example
Line 24b Meals: Business Meals 2,400 × 50% = 1,200.
Codes shown are the defaults a new workspace starts with. Yours may be renamed or renumbered — check Accounting › Chart of accounts. See the full default chart.
Also called
- Form 1040 Schedule C
- profit or loss from business
Related
- Entity type — How your business is set up for tax: sole proprietor, single- or multi-member LLC, S corporation, C corporation. It decides which equity accounts and forms you get.
- Income statement — Revenue, costs and expenses over a period, ending in net income. The report that says whether you made money.
- 6205 Business Meals — Meals with a business purpose, subject to the Schedule C deduction limit. Alison recognizes common restaurant and café descriptors.
- Form 1099-NEC — The form you file for each US contractor you paid $600 or more by cash, check or bank transfer during the calendar year. Card payments are excluded.