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Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 12009
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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2015 Tax form 1040 with schedule C - I was granted an

Customer Question

2015 Tax form 1040 with schedule C - I was granted an extension - Due date 10-15-16
Just completed my 1040 form with schedule C - In addition to this I have a small part time business - Do I start a second 1040 form with schedule C - Or do I use a different form? - if a different form can I get this from Turbo Tax?
Submitted: 10 months ago.
Category: Tax
Expert:  Rick Martin replied 10 months ago.

Hi, I'm happy to help and will stay online for the duration of your question. I kindly ask that you give me a positive rating after I provide you with an answer if you are happy with my service. I'm available to answer any follow up questions.

Expert:  Rick Martin replied 10 months ago.

You use the same 1040 but use different schedule C's if the businesses are unrelated.

Expert:  Rick Martin replied 10 months ago.

Turbo Tax should be able to guide your through setting up another Schedule C.

Expert:  Rick Martin replied 10 months ago.

Thank you for this opportunity to serve you. I kindly ask that you give me a good rating if you are happy with my service. My 5 star rating is very important to me. Have a good day. I will remain online in case you have any follow on questions. -Rick

Customer: replied 10 months ago.
How do I start another Schedule C?
Expert:  Rick Martin replied 10 months ago.

When you are in Turbo Tax, indicate that you have another business that needs a separate schedule C. Alternatively, you can go into forms mode and manually add another Schedule C.

Expert:  Rick Martin replied 10 months ago.

Often, Turbo Tax is helpful in guiding taxpayers, but sometimes manual mode is faster. To enter manual mode, there should be a choice to go to "Forms".

Expert:  Rick Martin replied 10 months ago.

Does this make sense?

Expert:  Rick Martin replied 10 months ago.

I can wait online while you try it.

Expert:  Rick Martin replied 10 months ago.

I'm going to opt out and let another expert respond. Another expert may be able advise you more precisely on which menu options in Turbo Tax will produce a second Schedule C.

Expert:  Lane replied 10 months ago.

Hi,

...

To add another business or Schedule C….

  • Go to Business tab-Continue
  • Choose Explore on my own or I'll choose what to work on (if it comes up)
  • Business Income and Expenses
  • Profit or Loss from Business, click Start or Update.

...
You should see the Business Summary page that lists your businesses, right below the list you can Add Another Business.
...
Be sure to add it under the right spouse if you are married.