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Meridian Idaho Form Instructions 1040 (Schedule C): What You Should Know
In Column B, indicate the tax status. Enter any amount from any of the following categories that you have excluded. See Exhibit 2 of Form 2106. If your gross receipts are from sales of motor vehicles and trailers or their parts, including vehicles used in parts manufacturing, you should enter that amount when you have included the motor vehicle or trailer sales in your gross receipts. In Column C, enter any income from all sources not taken into account in Column D. Column D must be positive. Column D is generally your gross receipts or net income from your business for the immediately preceding tax year. This includes income for sales of business, personal, or farming equipment to business or individual purchasers. See Exhibit 3 of Form 2106. If you received income from another Idaho business, report the income in Column C, but do not enter it in Column D. Check the box if any one of the following applies: The business is incorporated or is owned or controlled by a partnership. Your gross receipts are from a partnership, and You received gross receipts from a partnership in the previous period, but not in the current period. You did not earn any income. The business was sold. You had some, but not all, of the gross receipts from the partnership in the previous periods. Your liability for excise taxes is not reported on this Form. This is because the excise taxes are not a business expense except to the extent of your gross receipts. You did not earn any income. Any deduction for state income tax is not reported on this form. The business was either: A partnership; A corporation or other tax-exempt entity; A trust; A foreign partnership or foreign trust; or You have the same type of deduction for state income tax as the business you are filing a separate return. Check the box if any one of the following applies: You have the same type of deduction for state income tax as the business you are filing a separate return. The business is not a partnership. You have the same type of deduction for state income tax as the business you are filing a separate return. The business was not a partnership. You had the same type of deduction for state income tax as the business you are filing a separate return. The business was a partnership in the previous period. You did not have receipts in this period. The business was acquired by a trust or a foreign partnership, or the business was acquired by a trust or a foreign trust.
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