Self-employment income is reported on Schedule C, and the net profit or loss is reported on IRS Schedule 1 (Form 1040), Line 3.
To enter the data in the program:
From within your TaxAct® return (Online or Desktop), click Federal. On smaller devices, click the icon in the upper left-hand corner, then select Federal.
Click Business Income in the Federal Quick Q&A Topics menuto expand the category and then click Business income or loss from a sole proprietorship
Click +Add Schedule C to create a new copy of the form or click Review to review a form already created
The program will proceed with the interview questions for you to enter or review the appropriate information
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