Schedule c 2026

1. Click ‘Get Form’ to open it in the editor.
2. Begin by entering your name and Social Security Number (SSN) at the top of Schedule C. Specify your principal business or profession, including the product or service you provide.
3. Fill in your business name and address. If you do not have a separate business name, leave that field blank.
4. Indicate your accounting method (cash, accrual, or other) and confirm if you materially participated in the business during 2020.
5. In Part I, report your gross receipts or sales on line 1. Deduct returns and allowances on line 2 to find your gross profit.
6. List all business expenses in Part II, ensuring to categorize them correctly. Total these expenses before reporting any home office deductions.
7. Calculate your net profit or loss by subtracting total expenses from gross income. Follow instructions for reporting this on other forms if necessary.
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