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7/7/03 Needs Updating Draft Schedule C Questions & Answers 1 Needs Updating DRAFT 7/7/2003 Several Items including Pay & Awards Need Updating Schedule C Questions & Answers (Q s & A s) Table of Contents
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Schedule C is a form used by sole proprietorships to report their business income and expenses.
Individuals who operate a business as a sole proprietorship are required to file Schedule C with their tax return.
To fill out Schedule C, you will need to report your business income and expenses in the appropriate sections of the form.
The purpose of Schedule C is to calculate the net profit or loss of a sole proprietorship business for tax reporting purposes.
On Schedule C, you must report your business income, expenses, and any deductions related to your sole proprietorship.
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