Internal Revenue Service United States Department of the Treasury
Level Basic Advanced Military International

Income — Business; Form 1040, Line 12 Workout

Workout Resources

Publication 4491 Business Income

This lesson provides links to resource materials and practice to help you report business income, including self-employment income for taxpayers who are eligible to file Schedule C-EZ.

Begin this lesson by reviewing the Business Income (Form 1040, line 12) from Publication 4491.

Use your resource materials to apply what you've learned in the Business Income lesson:

  • How to report business income
  • When to complete Schedule C-EZ or C
  • What business expenses are within the scope for the VITA/TCE programs
  • How to complete Schedule C-EZ or C
  • How to identify "red flags" when preparing a Schedule C tax return with earned income credit (EIC)
  • What records to maintain
Graphic of hand weights.
Pub 4491, Business Income

Pub 4491, Business Income