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Form Instructions 1040 (Schedule C) Bridgeport Connecticut: What You Should Know

Enter the following information: Name of owner. Type of business, if different from sole proprietor. Number of shareholders. All directors; directors with the same tenure as shareholders. Number of officers. Corporate existence. Amount of total income or loss from trade or business. Any other information required in the Schedule. Connecticut resident: Example 2: Your only income is from one business: a partnership. Your sole proprietorship, which you filed on Schedule C for income or losses from a business you operated as of May 31, 2017. If the partners' income is reported in line 21 of their Schedule C filing, enter the total partners' incomes. If the total partners' taxable profit is reported in line 35 of their Schedule C filing, enter a zero on line 33 or line 30 of Schedule C. If you have less taxable income, enter less income on Line 33 or line 30 of Schedule C. Connecticut resident: Example 3: Your only income is from a partnership. You reported your share of sales income during the three-month period preceding the current period. Income from a partnership business is reported on Schedule V, line 43 of Schedule C. Connecticut resident: Example 4: Your only income is from an LLC. Enter sales income on Form 1040. LLC or LLC owned subsidiary: Enter total partners' income on Schedule V, line 45 of Schedule C. (If the LLC is the only member, enter total income under all members on line 41 of Schedule C.) Connecticut resident: Example 5: The partners in an LLC are all from one state, Massachusetts, and report all of their income from any business. Schedule V is filed with the income, if any. Connecticut resident: Example 6: You file Schedule C. You operate a sole proprietorship with a principal place of business in Connecticut. The sole proprietor's address is in Connecticut. Your sole proprietorship is a partnership. All partners' reported income from a business owned by you, the sole proprietor, is reported on Schedule C. Connecticut resident: Example 7: You operate a sole proprietorship with a principal place of business in Connecticut. Your spouse and your only income from a business is from a partnership. Schedule C is not filed. Connecticut resident: Example 8: All partners, except you and your spouse are Connecticut residents. Use Schedule C. Connecticut resident: Example 9: You operate a sole proprietorship with a principal place of business in Connecticut.

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