5. BUSINESS INCOME/(LOSS) FROM SCHEDULE C OR C-EZ.
Report the net business income or loss from Federal Schedule C or C-EZ.
Attach a copy of the Federal form.
The IA 4562A may need to be completed if the taxpayer claimed the bonus depreciation deduction for assets placed in service between September 11, 2001, and May 5, 2003, on the Federal return. For more information on bonus depreciation, see information on line 14.
If one spouse has a loss, the couple may want to calculate using filing status 2 to determine the best tax advantage.
|Married Separate Filers: Reported by the spouse deriving the income or loss.
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