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You will need to file a Form 1040X (Amended U.S. Individual Tax Return) with the corrected information. I am giving you two links below -- one link is to the Form 1040X itself and the other link is to the instructions for the form. The form is pretty simple to fill out, so you should have no problems, but if you do, come back and let us help you.
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Thank you for using justanswer. Merlo is absolutely correct. You need to file Form 1040X (Rev. November 2007) Amended U.S. Individual Income Tax Return. You will also need to fill out a corrected 2007 Form 1040 (Schedule C) Profit or Loss From Business. There is no actual "Corrected Schedule C" , you just fill another Schedule C and another 2007 Form 1040 (Schedule SE)Self-Employment Tax if applicable, and you attach these forms with the changes on them to your 1040X.
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Yes, Anne is correct. In addition to filing out Form 1040X, you will also need to attached a corrected Schedule C and also a corrected Schedule SE if it applies. I just assumed you would see that information in the first paragraph of the instructions which I gave you a link to. Let me know if you have any questions.