[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-seo-301929-105":3,"detail-sidebar-cat-1-en-105":80,"doc-detail-301929-en":126},{"code":4,"msg":5,"data":6},0,"ok",{"site_id":7,"language":8,"slug":9,"title":10,"keywords":11,"description":12,"schema_data":13,"social_meta":73,"head_meta":75,"extra_data":77,"updated_unix":79},105,"en","profits-return-earnings-tax-schedule-c-profit-or-loss-and-allocation-formula","PROFITS RETURN-EARNINGS TAX Schedule C - Profit (or Loss) and Allocation Formula","","PROFITS RETURN-EARNINGS TAX provides Schedule C to calculate profit or loss from a business or profession, including gross receipts, cost of goods sold components, gross profit, other business income, business deductions, and net profit or loss. It includes Schedule Y to allocate taxable net profit using a formula based on net profit, original cost of property, employee compensation, and gross receipts, producing an allocation percentage. It also provides Schedule Z for distributive shares of K-1 source income for partnerships, limited liability companies, and fiduciaries, including residency and taxable share amounts.",{"@graph":14,"@context":72},[15,34,55],{"@type":16,"itemListElement":17},"BreadcrumbList",[18,23,27,31],{"item":19,"name":20,"@type":21,"position":22},"https://docshare.wps.com","Home","ListItem",1,{"item":24,"name":25,"@type":21,"position":26},"https://docshare.wps.com/template/","Template",2,{"item":28,"name":29,"@type":21,"position":30},"https://docshare.wps.com/template/forms/","Forms",3,{"item":32,"name":10,"@type":21,"position":33},"https://docshare.wps.com/template/profits-return-earnings-tax-schedule-c-profit-or-loss-and-allocation-formula/301929/",4,{"url":32,"name":10,"@type":35,"image":36,"author":41,"headline":10,"publisher":44,"fileFormat":47,"inLanguage":8,"description":12,"dateModified":48,"datePublished":49,"encodingFormat":47,"isAccessibleForFree":50,"interactionStatistic":51},"DigitalDocument",{"url":37,"@type":38,"width":39,"height":40},"https://docshare.wps.com/thumbnails/profits-return-earnings-tax-schedule-c-profit-or-loss-and-allocation-formula/301929.png","ImageObject",442,249,{"name":42,"@type":43},"Alex Sinclair","Person",{"url":19,"name":45,"@type":46},"DocShare","Organization","application/pdf","2026-09-22","2026-09-19",true,{"@type":52,"interactionType":53,"userInteractionCount":33},"InteractionCounter",{"@type":54},"ViewAction",{"@type":56,"mainEntity":57},"FAQPage",[58,64,68],{"name":59,"@type":60,"acceptedAnswer":61},"What does Schedule C calculate on this tax form?","Question",{"text":62,"@type":63},"Schedule C calculates profit or loss from a business or profession by starting with gross receipts, subtracting cost of goods sold, adding other business income, then subtracting total business deductions to arrive at net profit or loss.","Answer",{"name":65,"@type":60,"acceptedAnswer":66},"How is taxable net profit determined in Schedule Y?",{"text":67,"@type":63},"Schedule Y starts with total net profit from Schedule C and computes allocation percentages using items such as original cost of property, total employee compensation, and gross receipts. It then multiplies the Schedule C net profit by the resulting allocation percentage to enter taxable net profit.",{"name":69,"@type":60,"acceptedAnswer":70},"What information is collected in Schedule Z?",{"text":71,"@type":63},"Schedule Z lists each taxpayer’s name and address, distributive percentage, Social Security or Federal ID number, whether they are a resident, and the taxable distributive shares amount. It also provides a total entry for distributive shares.","https://schema.org",{"og:url":32,"og:type":74,"og:title":10,"og:site_name":45,"og:description":12},"article",{"robots":76,"canonical":32},"index,follow",{"doc_id":78,"site_id":7},301929,1790068427,{"code":4,"msg":81,"data":82},"success",[83,88,93,98,103,108,112,117,122],{"id":84,"doc_module":22,"doc_module_name":25,"category_name":85,"show_sort_weight":86,"slug":87},11,"Presentations",90,"presentations",{"id":89,"doc_module":22,"doc_module_name":25,"category_name":90,"show_sort_weight":91,"slug":92},12,"Resumes",80,"resumes",{"id":94,"doc_module":22,"doc_module_name":25,"category_name":95,"show_sort_weight":96,"slug":97},14,"Invoices",70,"invoices",{"id":99,"doc_module":22,"doc_module_name":25,"category_name":100,"show_sort_weight":101,"slug":102},15,"Posters",60,"posters",{"id":104,"doc_module":22,"doc_module_name":25,"category_name":105,"show_sort_weight":106,"slug":107},16,"Social Media",50,"social-media",{"id":109,"doc_module":22,"doc_module_name":25,"category_name":29,"show_sort_weight":110,"slug":111},17,40,"forms",{"id":113,"doc_module":22,"doc_module_name":25,"category_name":114,"show_sort_weight":115,"slug":116},18,"Letters",30,"letters",{"id":118,"doc_module":22,"doc_module_name":25,"category_name":119,"show_sort_weight":120,"slug":121},21,"Paper Templates",5,"papers-templates",{"id":123,"doc_module":22,"doc_module_name":25,"category_name":124,"show_sort_weight":4,"slug":125},158,"General","general-158",{"code":4,"msg":81,"data":127},{"doc_id":78,"user_id":128,"nickname":42,"user_avatar":129,"doc_module":22,"category_id":109,"category_name":29,"doc_title":10,"doc_description":12,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":33,"is_deleted":4,"is_public":22,"is_downloadable":22,"audit_status":22,"page_count":22,"language":135,"language_code":8,"site_id":7,"html_lang":8,"table_of_contents":136,"faqs":137,"seo_title":138,"seo_description":12,"update_tm":139,"read_time":4},1099523882182,"https://ap-avatar.wpscdn.com/davatar_6f874abed73319feea01a86fa6f0fab8","FORM  \nRD-108B  \n(09/12)  \nCity of Kansas City, Missouri-Revenue Division  \nPROFITS RETURN-EARNINGS TAX Schedule C, Y, Z  \nLegal Name:   FEIN / SSN:   Account ID:  \nSCHEDULE C-PROFIT (OR LOSS) FROM BUSINESS OR PROFESSION DOLLARS CENTS  \n\n| 1. Gross receipts or gross sales, fees, or commissions less returns and allowances |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1 |  |  |  |  |  |  |  |  |  |  |  |  |  |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| 2. Cost of goods sold: DOLLARS CENTS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | DOLLARS CENTS |  |  |  |  |  |  |  |  |  |  |  |  |  |\n| A. Inventory at beginning of year |  |  |  |  | 2A |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |\n| B. Purchases |  |  |  |  | 2B |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |\n| C. Wages |  |  |  |  | 2C |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |\n| D. Other costs (attach worksheet) |  |  |  |  | 2D |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |\n| E. Total (lines 2A through 2D) |  |  |  |  | 2E |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |\n| F. Less inventory at end of year |  |  |  |  | 2F |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |\n| G. Net cost of goods sold (line 2E less line 2F) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2G |  |  |  |  |  |  |  |  |  |  |  |  |  |\n| 3. Gross profit (line 1 less line 2G) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3 |  |  |  |  |  |  |  |  |  |  |  |  |  |\n| 4. Other business income (specify) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4 |  |  |  |  |  |  |  |  |  |  |  |  |  |\n| 5. Total business income before deductions (line 3 plus line 4) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 5 |  |  |  |  |  |  |  |  |  |  |  |  |  |\n| 6. Officer Compensation | 6 |  |  |  |  |  |  |  |  |  |  |  | 12. Interest |  |  |  |  |  |  |  | 12 |  |  |  |  |  |  |  |  |  |  |  |\n| 7. Salaries | 7 |  |  |  |  |  |  |  |  |  |  |  | 13. Depreciation |  |  |  |  |  |  |  | 13 |  |  |  |  |  |  |  |  |  |  |  |\n| 8. Repairs & maintenance | 8 |  |  |  |  |  |  |  |  |  |  |  | 14. Depletion |  |  |  |  |  |  |  | 14 |  |  |  |  |  |  |  |  |  |  |  |\n| 9. Bad debts | 9 |  |  |  |  |  |  |  |  |  |  |  | 15. Advertising |  |  |  |  |  |  |  | 15 |  |  |  |  |  |  |  |  |  |  |  |\n| 10. Rents | 10 |  |  |  |  |  |  |  |  |  |  |  | 16. Pension, profit-sharing |  |  |  |  |  |  |  | 16 |  |  |  |  |  |  |  |  |  |  |  |\n| 11. Taxes (Federal, state and local taxes are NOT deductible.) | 11 |  |  |  |  |  |  |  |  |  |  |  | 17. Employee benefit programs |  |  |  |  |  |  |  | 17 |  |  |  |  |  |  |  |  |  |  |  |\n|  |  |  |  |  |  |  |  |  |  |  |  |  | 18. Other deductions (Special deductions are NOT deductible) |  |  |  |  |  |  |  | 18 |  |  |  |  |  |  |  |  |  |  |  |\n| 19. Total business deductions (line 6 through line 18) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 19 |  |  |  |  |  |  |  |  |  |  |  |  |  |\n| 20. Net profit or loss (line 5 less line 19, enter on line 4, form RD-108 or line 1, Schedule Y) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 20 |  |  |  |  |  |  |  |  |  |  |  |  |  |\n\nSCHEDULE Y-BUSINESS ALLOCATION FORMULA DOLLARS CENTS  \n\n| 21. Total net profit (from Schedule C, line 20) | 21 |  |  |  |  |  |  |  |  |  |  |  |  |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n\nA: Everywhere  \nDOLLARS CENTS  \nB: In KCMO  \nC:  \nDOLLARS CENTS B divided by A  \n\n| 22. Original cost of real and tangible personal property located | 22 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | % |\n| --- | --","cbCairR08m9OPpND","https://ap.wps.com/l/cbCairR08m9OPpND","pdf",69997,"English","# Schedule C - Profit (or Loss) from Business or Profession\n## Gross receipts and cost of goods sold\n## Deductions and net profit or loss\n# Schedule Y - Business Allocation Formula\n## Allocation percentage and taxable net profit\n# Schedule Z - Distributive Shares of K-1 Source Income","[{\"question\":\"What does Schedule C calculate on this tax form?\",\"answer\":\"Schedule C calculates profit or loss from a business or profession by starting with gross receipts, subtracting cost of goods sold, adding other business income, then subtracting total business deductions to arrive at net profit or loss.\"},{\"question\":\"How is taxable net profit determined in Schedule Y?\",\"answer\":\"Schedule Y starts with total net profit from Schedule C and computes allocation percentages using items such as original cost of property, total employee compensation, and gross receipts. It then multiplies the Schedule C net profit by the resulting allocation percentage to enter taxable net profit.\"},{\"question\":\"What information is collected in Schedule Z?\",\"answer\":\"Schedule Z lists each taxpayer’s name and address, distributive percentage, Social Security or Federal ID number, whether they are a resident, and the taxable distributive shares amount. It also provides a total entry for distributive shares.\"}]","PROFITS RETURN-EARNINGS TAX Schedule C - Profit (or Loss) and Allocation Formula | PDF",1789786917]