Schedule C is the IRS form that reports your business income and expenses when you operate as a sole proprietorship.
Start by gathering your 1099s, bank statements, and receipts so you can accurately report gross receipts and cost of goods sold.
Remember to capture common deductions like home office expenses, mileage, and software tools—these directly reduce your taxable income.
If you use accounting software, export a profit and loss report to make filling out Part II of the form faster.
File on time and keep digital copies of all documentation for at least three years in case of an audit.