IRS Form 1040 Schedule C-EZ, Net Profit from Business (Sole Proprietorship) is a form you complete to report income and loss from a business, qualified joint venture, or profession you practiced as a sole proprietor. It is a simplified variant of Schedule C, Profit or Loss from Business (Sole Proprietorship). The document is part of the IRS 1040 forms you fill out to report and deduct different types of income and loss.
The schedule - also known as the net profit from business form - was issued by the Internal Revenue Service (IRS) and is updated annually. The fillable version of Schedule C-EZ is available for download below.
You are eligible to complete Schedule C-EZ to report a profit from your business if you:
Using this simplified form instead of the longer Schedule C can considerably reduce filing time and paperwork.