Form Pa-40 C - Pa Schedule C - Profit Or Loss From Business Or Profession (Sole Proprietorship) Page 2

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1303210056
PA Schedule C
PA-40 C (09–13) (FI)
PA DEPARTMENT OF REVENUE
OFFICIAL USE ONLY
Social Security Number
Name of owner as shown on PA tax return:
START
SCHEDULE C-1 - Cost of Goods Sold and/or Operations
1. Inventory at beginning of year (if different from last year’s closing inventory, include explanation) . . . . . . . . . . . .
1.
2.
a. Purchases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2a.
b. Cost of items withdrawn for personal use . . . . . . . . . . . . . . . . . .
2b.
c. Balance (subtract Line 2b from Line 2a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2c.
3. Cost of labor (do not include salary paid to yourself or subcontractor fees) . . . . . . . . . . . . . . . . . . . . . . . . . . .
3.
4. Materials and supplies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4.
5. Other costs (include schedule) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5.
6. Add Lines 1, 2c, 3, 4 and 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6.
7. Inventory at end of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7.
8. Cost of goods sold and/or operations (subtract Line 7 from Line 6) Enter here and on Part I, Line 2 . . . . . . . . .
8.
SCHEDULE C- 2
Depreciation
-
PA PIT law does not permit the bonus depreciation elections added to the Internal Revenue Code (IRC) in 2002, 2003, 2008 and 2009. PA PIT
law limits IRC Section 179 current expensing to the expensing allowed at the time you placed the asset into service or in effect under
the IRC of 1986 as amended Jan. 1, 1997. For each asset, you must also report straight-line depreciation, unless not using an optional
accelerated depreciation method. You need straight-line depreciation to take advantage of Pennsylvania’s Tax Benefit Rule when you sell
the asset. See the PA PIT Guide for the Tax Benefit Rule.
1. Total Section 179 depreciation (do not include in items below
. . . . . . . . . . . . . . . . . . . . . . . . . . .
1.
)
2. Less: Section 179 depreciation included in Schedule C-1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.
3. Balance (subtract Line 2 from Line 1). Enter here and on Part II, Line 13b. . . . . . . . . . . . . . . . . .
3.
Depreciation for this year
Life
Description of property
Date acquired
Cost or other basis
Depreciation allowed or
Method of calculating
allowable in prior years
or rate
depreciation
(g)
(a)
(c)
(d)
(e)
(f)
(b)
MM/DD/YY
4. Other depreciation:
Buildings . . . . . . . . . . . . . . .
Furniture and fixtures . . . . . . .
Transportation equipment . . . .
Machinery and other equipment
Other (specify) . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . .
5. Totals (add all Line 4 amounts) . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . .
5.
6. Any depreciation included in Schedule C-1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6.
7. Balance (subtract Line 6 from Line 5). Enter here and on Part II, Line 13a. . . . . . . . . . . . . . . . . . . .
7.
PRINT FORM
Reset Entire Form
NEXT PAGE
RETURN TO SIDE ONE
SIDE 2
1303210056
1303210056

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