2008 2009 Form 1040 Schedule C Instuctions for Profit or Loss From Business

Do you have a business you operated or a profession you practiced as a sole proprietor? An activity qualifies as a business if your primary purpose for engaging in the activity is for income or profit and you are involved in the activity with continuity and regularity. 

Schedule C of Form 1040 actually belongs to Profit or Loss From Business. You will have to mention any profit or loss you derived from your business in 2008.

If you answered yes to the above question, We assume you have a business. In that case, you would need to file Schedule C of Form 1040 to report wages and expenses you had as a statutory employe and certain income shown on Form 1099-MISC, Miscellaneous Income.

Is there any special requirement for Form 1040 Schedule C?

Small businesses and statutory employees with expenses of $5,000 or less may be able to file Schedule C-EZ instead of Schedule C

you can download Schedule C form from IRS along with Schedule C Instructions on how to fill the Schedule C 1040 Form.

You would also need to take a closer look at IRS Tax Tables for 2008-2009 to calculate your taxes.