Once you’ve the simpler Schedule C-EZ instead. Note that if you attach a Schedule C, you likely need a Schedule SE as well (see below).
Schedule SE for Self-Employment Tax calculates the amount owed by self-employed individuals. Similar to how employers match an employee’s payroll taxes, self-employed taxpayers must pay both amounts themselves, by completing a Schedule SE. If your net earnings from self-employment are greater than $400, then you should fill out an SE.
Schedule E reports “Supplemental Income and Loss”, usually for those who receive income from rental properties or for those who are partners/shareholders in an S corporation (be sure to use the Schedule K-1 you received when completing your Schedule E). Also be sure to report any net losses from business activity you partook in.
The Child Tax Credit, known as Schedule 8812, is for taxpayers who should receive more credits from qualifying dependent children ($1,000 per child) than they owe on their tax return. Taxpayers should be sure that their dependent child qualifies for this tax credit and that they meet a certain income threshold.
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