Once your trips and transactions have been fully classified, you'll be able to use your Everlance data to help you file your taxes. Through data exports or by going to the Everlance Tax Center, this tutorial will show you exactly what figures to include on your Schedule C tax form.
Let’s dive in!
Step 1: Generate a Data Export for your tax year (for example, January 1, 2023 - December 31, 2023). Data exports will provide you with a breakdown of your information and your totals for the year. We recommend using data exports if you have multiple sources of income. This way you'll be able to see a summary for each Work Purpose (sources of income) on your exports. If you have one source of income, we recommend going to the Tax Center which can be found under Profile and Settings on your mobile device.
Step 2: Next, download your Exports to your device. If you downloaded a spreadsheet (CSV) Export, use Microsoft Excel, Apple Numbers, or OpenOffice Calc. If you have PDF Export, use Adobe Acrobat or Apple Preview.
Step 3: Locate your Schedule C form. Your Schedule C is where you will enter any expenses you would like to claim as deductions, for your time working as a sole proprietor. You can download a Schedule C form directly from the IRS website - click here.
Step 4: From your Schedule C form, scroll down to ‘Line 9’. This is where you will report your total business vehicle expenses. You can deduct the actual expenses of operating your car or truck OR take the standard mileage rate. You cannot use both.
*Pro Tip - If you’ve been keeping track of both miles and expenses, generate an export for both and see which method will save you more money!
Choose your method below:
Standard Deduction Rate
From your Trips Export, take the total value for your Work mileage and enter this on Line 9 of your Schedule C form.
Excel Example
PDF Example
Insert this information on Line 9 on your Schedule C
Actual Vehicle Expenses
From your Transaction Export, take the total value for your Work Expenses and enter this on Line 9 of your Schedule C form.
Excel Example
PDF Example
Insert this information on Line 9 of your Schedule C
Step 5: Next, go to Line 44 of your Schedule C to report your total business miles for the year. You can find this information from your Trips Export as shown below. In my example, I have 4825 work miles.
Trips Export
Schedule C
If you need help filling out the rest of your Schedule C, please refer to our blog article, How to Fill Out Your Schedule C Tax Form for 2023.
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