Can I use Schedule C-EZ?
Can I use Schedule C-EZ?
For tax years begining with 2019:
Schedule C-EZ (Form 1040) have been made obsolete for tax year 2019 and future years.
For tax years 2018 and prior:
You May Use Schedule C-EZ Instead of Schedule C Only If You:
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Had business expenses of $5,000 or less.
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Use the cash method of accounting.
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Did not have an inventory at any time during the year.
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Did not have a net loss from your business.
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Had only one business as a sole proprietor
And You:
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Had no employees during the year.
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Are not required to file Form 4562, Depreciation and Amortization, for this business.
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Do not deduct expenses for business use of your home.
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Do not have prior year unallowed passive activity losses from this business.
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