2005 Profit or Loss from Business (Sole Proprietorship)


Your Email address (required)...      Taxpayer Social Security No.
  This business is owned by:     Taxpayer / Spouse          Employer ID
Principal Business (including product or service)
  Business Name (DBA if applicable)
Business Street Address
  Business City ST, Zip Code
Business Code
Accounting Method:
  (1) Cash     (2) Accrual      (3) Other (Describe)
Method(s) used to value closing inventory:
  (1) Cost      (2) Lower of Cost or Market      (3) Other      (4) Does Not Apply
 
Describe Other Inventory Method (3) if checked 
  Was there any change in determining quantities, costs, or valuations between opening and closing inventory? If "Yes", attach explanation below. Yes No
Did you "materially Participate" in the operation of this business during 2005? Yes No
Did you start or acquire this business during 2005? Yes No
  INCOME:
Gross Receipts or Sales Returns Allowances
Other Income      
COST OF GOODS SOLD:
  Beginning of Year Inventory   End or Year Inventory
  Purchases   Cost of Labor
  Materials Supplies   Other Costs
  EXPENSES:
  Advertising Pension Profit Sharing Plans
Bad Debts Rent or Lease Veh,Mach,Equip.
Contract Labor Rent or Lease Other
Repairs & Maint   Commissions and Fees
  Supplies Depletion
Taxes and licenses Depreciation
Travel Meals and entertainment
Employee Benefit Programs Insurance (other than health)
Mortgage Interest (banks,etc) Other Interest
Utilities Legal and Professional Services
Wages:   Office Expense
Car and Truck Expenses   (Complete information under Vehicle Expenses below)

Is all of your investment in this business "at risk"?          Yes No

Other Expenses: (List description and amount)

VEHICLE EXPENSES
General Information
  Vehicle 1   Vehicle 2
Date vehicle placed in service
Total miles vehicle driven during year    
Business miles driven during 2005    
      Before September 1, 2005    
      After August 31, 2005    
  Total commuting miles driven during year    
  Other personal miles    
  Do you (or your spouse) have another vehicle available for personal purposes?    Yes No
  If your employer provided you with a vehicle, is personal use during off-duty hours permitted?    Yes No NA
  Do you have evidence to support your deduction?    Yes No
  If "Yes", is the evidence written?    Yes No
  Actual Expenses   Vehicle 1   Vehicle 2
Gasoline, oil, repairs, vehicle insurance, etc.    
Vehicle Rentals    
Inclusion amount    
      Note: Complete depreciation information form for each vehicle if actual expenses claimed..

 


    

   

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