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Posted on Sep 4, 2019

BRAVO & BRAVO

Q: How is income or loss from a business reported?

A Taxpayer who operates a business as a sole proprietor must figure income or loss from that business on Sche. C (F1040), Profit or Loss From Business & report it on Line 12 of F1040, Schedule 1, Addit. Income & Adjustments to Income.
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