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1answer
44 views

Do I need to file schedule C if I had a net loss?

I ran a business in 2015 (sole proprietorship) that had a net loss, and I have discontinued that business. Do I need to file a schedule C for it, assuming I do not want/need to offset other earnings ...
2
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1answer
27 views

When amending a tax return to include a futures loss carry back, are you not allowed to include a Schedule C?

In 2013, I had profits from trading futures contracts, and that profit was reported on Form 6781 of my 2013 tax return. In 2014, I had losses from trading futures contracts. My CPA is amending my ...
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1answer
135 views

How should I report earnings from Apple (from selling mobile applications in the App Store) in 1040 form in USA?

How should I report earnings from Apple (from selling mobile applications in the App Store) in 1040 form in USA? I'm permanent resident of USA. Can I fill Form 1040 with Schedule C as individual ...
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2answers
273 views

Formation of S-Corp for Gambling Trade

Does anyone have personal experience with incorporating an S-Corporation for the gambling trade? In cases where the gambling activity is consistent and produces sufficient income (versus, say, an ...
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2answers
164 views

Taxable Website Ad Revenue

This is based in United States. I have Ad revenue that I pay taxes on as Misc income on a schedule C. I also do freelance web development for a hourly rate, and hold a W2 job. The question: If I ...
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1answer
168 views

How to Deduct Family Health Care Premiums Under Side Business

I am an employee of a company and I have health insurance through them, pre tax. My company only pays for me so I have private insurance for my wife and kids. I also have a side business, and was ...
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3answers
830 views

Owning properties through an LLC - how to split the LLC expenses?

I own some rental properties through my LLC. While most of the expenses can be attributed to a property and find their way to schedule E, I'm puzzled about the LLC expenses... In California its ...
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2answers
915 views

How classify businesses website and domain names on Schedule C

Where on the Schedule C should the following deductions go: 1) business website and 2) domain name purchases for the business (domain names all map to that same business website).
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Where on schedule C should a PO Box Rental fee go?

I'm filling out my US Income tax forms and I am trying to decide where on Schedule C to put the expense for a PO Box Rental. My first guess was "Communication," but I'm not sure. "Office Expense" or ...