How Do I File My Annual Return?

To file your annual tax return, you will need to use Schedule C to report your income or loss from a business you operated or a profession you practiced as a sole proprietor. Schedule C Instructions may be helpful in filling out this form.

In order to report your Social Security and Medicare taxes, you must file Schedule SE (Form 1040 or 1040-SR ), Self-Employment Tax. Use the income or loss calculated on Schedule C to calculate the amount of Social Security and Medicare taxes you should have paid during the year. The Instructions for Schedule SE may be helpful in filing out the form.