Schedule C ( Form 1065 ) (Rev. December 2011 )-2025

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Eligibility and election: Any entity that meets the IRS criteria can file Form 1065, while S corporations must file Form 2553 to elect S status. Ownership and structure: Partnerships offer more flexibility in ownership structures and profit-sharing agreements.
Line 14C - Gross Non-Farm Information - Amounts reported in Box 14, Code C are used to determine net earnings from self-employment under the nonfarm optional method on Schedule SE (Form 1040), Section B, Part II.
Schedule C is for reporting of sole proprietorship income expenses. K-1 partnership income from an LLC is not sole proprietorship income. You may want to seek professional assistance.
Schedule C (Form 1065, Additional Information for Schedule M-3 Filers. Some filers of Schedule M-3 (Form 1065), Net Income (Loss) Reconciliation for Certain Partnerships, use Schedule C (Form 1065) to provide answers to additional questions.
An LLC will file one of the following returns, depending on the situation: Single-member LLCs: Form 1040 (Schedule C, E, or F) Multiple-member LLCs (Partnership): Form 1065. S Corporation: Form 1120-S.
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