Profit or Loss Statement 2025 - Fill, Sign Online, Download & Print - No Signup
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TREASURY/IRS AND OMB USE ONLY DRAFT
DRAFT — DO NOT FILE
DRAFT — DO NOT FILE
SCHEDULE C
(Form 1040)
20
25
Profit or Loss From Business
(Sole Proprietorship)
Department of the Treasury
Internal Revenue Service
Attach to Form 1040, 1040-SR, 1040-SS, 1040-NR, or 1041; partnerships must generally file Form 1065.
Go to
www.irs.gov/ScheduleC
for instructions and the latest information.
OMB No. 1545-0074
Attachment
Sequence No.
09
Name of proprietor
Social security number (SSN)
A
Principal business or profession, including product or service (see instructions)
B
Enter code from instructions
C
Business name. If no separate business name, leave blank.
D
Employer ID number (EIN)
(see instr.)
E
Business address (including suite or room no.)
City, town or post office, state, and ZIP code
F
Accounting method:
(1)
Cash
(2)
Accrual
(3)
Other (specify)
G
Did you “materially participate” in the operation of this business during 2025? If “No,” see instructions for limit on losses
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Yes
No
H
If you started or acquired this business during 2025, check here .
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I
Did you make any payments in 2025 that would require you to file Form(s) 1099? See instructions .
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Yes
No
J
If “Yes,” did you or will you file required Form(s) 1099? .
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Yes
No
Part I
Income
1
Gross receipts or sales. See instructions for line 1 and check the box if this income was reported to you on
Form W-2 and the “Statutory employee” box on that form was checked .
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1
2
Returns and allowances .
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2
3
Subtract line 2 from line 1
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3
4
Cost of goods sold (from line 42)
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4
5
Gross profit.
Subtract line 4 from line 3
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5
6
Other income, including federal and state gasoline or fuel tax credit or refund (see instructions) .
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6
7
Gross income.
Add lines 5 and 6 .
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7
Part II
Expenses.
Enter expenses for business use of your home
only
on line 30.
8
Advertising .
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8
9
Car and truck expenses
(see instructions) .
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9
10
Commissions and fees
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10
11
Contract labor (see instructions)
11
12
Depletion
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12
13
Depreciation and section 179
expense
deduction
(not
included in Part III) (see
instructions)
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13
14
Employee benefit programs
(other than on line 19)
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14
15
Insurance (other than health)
15
16
Interest (see instructions):
a
Mortgage (paid to banks, etc.)
16a
b
Other
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16b
17
Legal and professional services
17
18
Office expense (see instructions) .
18
19
Pension and profit-sharing plans .
19
20
Rent or lease (see instructions):
a
Vehicles, machinery, and equipment
20a
b
Other business property
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20b
21
Repairs and maintenance .
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21
22
Supplies (not included in Part III) .
22
23
Taxes and licenses .
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23
24
Travel and meals:
a
Travel .
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24a
b
Deductible meals (see instructions)
24b
25
Utilities
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25
26
Wages (less employment credits)
26
27 a
Energy efficient commercial bldgs
deduction (attach Form 7205) .
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27a
b
Other expenses (from line 48) .
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27b
28
Total expenses
before expenses for business use of home. Add lines 8 through 27b .
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28
29
Tentative profit or (loss). Subtract line 28 from line 7 .
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29
30
Expenses for business use of your home. Do not report these expenses elsewhere. Attach Form 8829
unless using the simplified method. See instructions.
Simplified method filers only:
Enter the total square footage of (a) your home:
and (b) the part of your home used for business:
. Use the Simplified
Method Worksheet in the instructions to figure the amount to enter on line 30 .
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30
31
Net profit or (loss).
Subtract line 30 from line 29.
• If a profit, enter on both
Schedule 1 (Form 1040), line 3,
and
on
Schedule SE, line 2.
(If you
checked the box on line 1, see instructions.) Estates and trusts, enter on
Form 1041, line 3.
• If a loss, you
must
go to line 32.
}
31
32
If you have a loss, check the box that describes your investment in this activity. See instructions.
• If you checked 32a, enter the loss on both
Schedule 1 (Form 1040), line 3,
and on
Schedule
SE, line 2.
(
If you checked the box on line 1, see the line 31 instructions.)
Estates and trusts, enter on
Form 1041, line 3.
• If you checked 32b, you
must
attach
Form 6198.
Your loss may be limited.
}
32a
All investment is at risk.
32b
Some investment is not
at risk.
For Paperwork Reduction Act Notice, see the separate instructions.
Cat. No. 11334P
Schedule C (Form 1040) 2025
Created 4/3/25
TREASURY/IRS AND OMB USE ONLY DRAFT
DRAFT — DO NOT FILE
DRAFT — DO NOT FILE
Schedule C (Form 1040) 2025
Page
2
Part III
Cost of Goods Sold
(see instructions)
33
Method(s) used to
value closing inventory:
a
Cost
b
Lower of cost or market
c
Other (attach explanation)
34
Was there any change in determining quantities, costs, or valuations between opening and closing inventory?
If “Yes,” attach explanation .
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Yes
No
35
Inventory at beginning of year. If different from last year’s closing inventory, attach explanation .
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35
36
Purchases less cost of items withdrawn for personal use
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36
37
Cost of labor. Do not include any amounts paid to yourself .
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37
38
Materials and supplies
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38
39
Other costs .
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39
40
Add lines 35 through 39 .
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40
41
Inventory at end of year
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41
42
Cost of goods sold.
Subtract line 41 from line 40. Enter the result here and on line 4 .
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42
Part IV
Information on Your Vehicle.
Complete this part
only
if you are claiming car or truck expenses on
line 9 and
are not required to file Form 4562 for this business. See the instructions for line 13 to find out if you must file
Form 4562.
43
When did you place your vehicle in service for business purposes? (month/day/year)
/
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44
Of the total number of miles you drove your vehicle during 2025, enter the number of miles you used your vehicle for:
a
Business
b
Commuting (see instructions)
c
Other
45
Was your vehicle available for personal use during off-duty hours?
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Yes
No
46
Do you (or your spouse) have another vehicle available for personal use?.
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Yes
No
47a
Do you have evidence to support your deduction?
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Yes
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b
If “Yes,” is the evidence written?
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Yes
No
Part V
Other Expenses.
List below business expenses not included on lines 8-27a, or line 30.
48
Total other expenses.
Enter here and on line 27b
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48
Schedule C (Form 1040) 2025
