Small business owners and self-employed individuals can use a Schedule C form to report profits or losses from a business. When you file your taxes, you can attach Schedule C to your regular 1040 form. If you recently became self-employed or started a bu
When reporting losses on Schedule E, the IRS limits your deductible loss to the amount you are "at-risk" for. Further limitations on the amount of losses you can deduct may exist based on the passive activity rules. Reporting rental income on Schedule E One of the more common reasons you...