Schedule C and depreciation. To add a form, simply click on "add form" or press Ctrl+A on your keyboard to select Schedule C. You can also click on it or type "C" on the keyboard and press Enter, and it will load Schedule C for you. It wants to know what type of business this is, not the name of the business yet, just what type of business they're in. For this example, we're going to say landscaping. 2. Now, you have to select the business code. The IRS has blessed you with a long book of codes that you have to look through. You'll notice that by clicking choices, it will give you a list of all the different descriptions and codes that you could select. Before you actually come to this screen, try going to the description field first. For example, this is a landscaping business, so if I start typing in "landscaping," you'll notice that it grays it. Again, it says that we're talking about landscaping services. If you hit Enter, it will fill that information in for you, as well as the appropriate business code. This saves so much time when it comes to completing the tax return. 3. Next is the business name. You would want to enter the business name and, if applicable, the employer identification number. 4. Now, let's talk about the income section. There are two different ways to enter income on Schedule C. One way is if they bring you a shoe of receipts that you are tallying up, you can put the total amount on line one. You can also press Ctrl+W and go to an overflow detail statement where you can list out the individual amounts for them to total. For this example, I'm just going to input $1,500...
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Video instructions and help with filling out and completing What Form 1120 C Depreciation
