Enter basic business information for a Schedule C
Enter non-financial information about the taxpayer's sole proprietor business or trade to complete federal Schedule C - Profit or Loss From Business.
Complete this procedure once for each sole-proprietor business on the return. If the taxpayer operates more than 1 business, add a separate business name for each one.
- In the Organizer, go to .
- Select an existing business name, or selectAdd new Business Name.noteIf you are adding a new business, enter the sole proprietorship name. You can enter up to 35 characters.
- SelectBusiness Information, then go to theSch C Activity Infotab.
- Select the ownership designation for this business activity:T(taxpayer),S(spouse), orJ(joint).The ownership designation is required if the return has split-state allocations or if you need to generate a married filing separately return from a joint return.
- Enter a unique activity number for this business activity.
- Enter (or update) the business name.
- Enter the business address and city, state, and ZIP Code.
- Enter a description of the principal business activity or profession.
- Enter the Federal Employer Identification Number (FEIN) assigned to the business.
- If necessary, enter the tax shelter identification number and the tax shelter registration number.
