What document is typically used to report self-employed income?

The document commonly used to report self-employed income is Schedule C. This form is specifically designed for individuals who are self-employed and operates as a sole proprietorship. It allows these individuals to report their business income and expenses on their federal income tax return. Schedule C provides a detailed breakdown of income, operating costs, and eligible deductions, making it essential for accurately calculating taxable income derived from self-employment.

While other documents listed have specific functions, they do not serve as the primary report for self-employed income. The W-2 form is used by employers to report wages, salaries, and other compensation paid to employees. Form 1040 is the standard individual income tax return form for reporting overall income, but it doesn’t provide the specific breakdown of self-employed earnings without attaching Schedule C. Lastly, the 1099 form is typically used for reporting various types of income received from sources other than employment, such as freelance work, but it doesn't detail the expenses associated with earning that income, which is crucial for self-employed individuals.