Schedule C - Part V Other Expenses

The TaxAct® program provides nine lines for entry of Other Expenses in Part V of Schedule C (Form 1040) Profit or Loss from Business because the IRS only provides nine such lines on the Schedule C (Form 1040) they release. If you need to enter more than nine Other Expenses, your options are:

  • Consolidate some of the entries by entering a description for multiple items on one line and then the corresponding total for those items; OR
  • Attach a sheet itemizing all of the expenses (and make one entry in the program with the description See Attached Sheet and the total amount). Note. If you choose to attach a sheet of other expenses, you cannot electronically file your return, rather you would have to mail a paper copy of the return to the IRS.

An easy way to create a sheet to attach to the return is to use the Detailed Information dialog box available for any field in the program (Note. This detail will print with the return, however, would not be electronically filed with the return so this option can only be used in place of manually creating a sheet and you would still need to paper file the return).

To do this, enter a description of "See Attached Sheet" in the description field of the first line. Click in the amount field of that first line (whether actually on the form or in the Q&A interview) and click the small icon that appears off to the side of the field (either a hand holding a pencil or a magnifying glass). In the Detailed Information dialog box that opens, enter the description and amount for each expense. The total of the amounts entered will transfer to that amount field in the program and the information (both the individual descriptions and amounts) will print with the return. You also have the option to print these details from within the dialog box.

Note. As mentioned previously, this information will NOT be electronically filed with the return. You would need to print and mail the return, including the detailed information sheet that prints.

Note that any link in the information above is updated each year automatically and will take you to the most recent version of the webpage or document at the time it is accessed.