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COMBINED MANUAL

ISSUE DATE 08/2019

VERIFYING SELF-EMPLOYMENT INCOME

0010.18.09

- Partnerships, S Corporations, estates, and trusts.

- Schedule F (Form 1040), Profit or Loss From Farming. Use this form to report farm income and expenses.

- Schedule SE (Form 1040), Self-Employment Tax. This schedule is used to figure the tax due on net earnings from self- employment.

● Business 1065 Forms. Form 1065 is used to report income, gains, losses, deductions, credits, and other information from the operation of a partnership.

- Schedule K-1 (Form 1065), Partner's Share of Income, Deductions, Credits, etc. This form is used for reporting the distributive share of a partnership income, credits, etc., filed with Form 1065. The partnership files a copy of this schedule with the IRS to report each owner’s share of the partnership's income, deductions, credits, etc

● Business 1120 Forms. Form 1120, U.S. Corporation Income Tax Return is used to report income, gains, losses, deductions, credits, and to figure the income tax liability of a corporation.

- Schedule K-1 (Form 1120-S), Shareholder's Share of Income, Deductions, Credits, etc. This form is used by S Corporations to report to each person and to the IRS who was a shareholder at any time during the S corporation's tax year.

See 0017.15.33 (Self-Employment Income), 0017.15.33.03 (Self-Employment, Convert Inc. to Monthly Amt.-Cash), 0017.15.33.05 (Self-Employment, Determine Countable Monthly Income – SNAP) and the Self- Employment Guide.