Schedule C WorksheetThe sole-proprietor return laid out line by line from the ledger, with the accounts feeding each line shown, so a figure can be traced rather than trusted.
Prepared on the cash basis · change it in Settings
Identifying information Schedule C, lines A–E
Gross income (Line 1+6)
$139,801.55
Total expenses (Line 28)
$99,559.05
Net profit (Line 31)
+$40,242.50
Part I · Income
| Line | Label | Categories | Amount |
|---|---|---|---|
1 |
Gross receipts or sales | Sales | $139,801.55 |
Part II · Expenses
| Line | Label | Categories | Amount |
|---|---|---|---|
4 |
Cost of goods sold | Cost of Goods Sold | $41,915.06 |
8 |
Advertising | Advertising & Marketing | $10,936.00 |
9 |
Car and truck expenses | Standard mileage (474 mi × 72.5¢ / 76.0¢) | $360.62 |
13 |
Depreciation (see Form 4562) | Depreciation Expense, Adjusted to Form 4562 (Tax → Equipment) | $15,864.00 |
18 |
Office expense | Office Supplies, Software & Subscriptions | $3,835.37 |
20b |
Rent or lease · other business property | Rent & Lease | $19,900.00 |
27a |
Other expenses (uncategorized) | Uncategorized Expense | $6,748.00 |
| Line 28 · Total expenses | $99,559.05 | ||
What's excluded · 1 account, -$3,680.00
Balance-sheet movements (transfers, card payments, loans, draws, estimated-tax payments) are never on this worksheet; they aren't P&L events. Beyond that, an account whose tax line says it is not deductible on Schedule C (charitable gifts, fines, federal income tax, the owner's own pay) or is reported on another schedule (Schedule F farm lines, Schedule B interest, Form 4797 gains) is left out here and listed below, so line 31 is what the return says and not what the P&L says.
| Account | Why it's off Schedule C | Amount |
|---|---|---|
| Depreciation posted vs. Form 4562 (expense) | The books' posted depreciation differs from Form 4562 (months of the year still to post, a closed period, or entries posted before the assets' current elections and limits) — the return uses Form 4562 | -$3,680.00 |
| Book net income (P&L) | +$44,283.12 | |
| + expenses not deductible here | -$3,680.00 | |
| − Standard mileage (474 mi × 72.5¢ / 76.0¢) | -$360.62 | |
| = Line 31 net profit | +$40,242.50 | |