Self-employed income

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Self-employed income refers to earnings generated by individuals who work for themselves, such as from businesses, freelance work, or contract work. The supported pay types for the self-employed income are IRS Form 1040 - Individual Income Tax Return, IRS Form 1065 - Partnership Income, IRS Form 1120 - Regular Corporation, and IRS Form 1120S - S Corporation Earnings.

To learn more about the income calculations, see income calculations API reference page.

IRS Form 1040 - Individual Income Tax Return

It is a primary document for reporting a US individual's income, expenses, and tax credits to the federal government.

Captured fields

Field name	Title	Data type	Description
`w2_income`	`form_w2 - w2_income`	`string`	Income reported on W-2 form, if available for the self-employed borrower.
`dividends`	`form1040_schedule_b - dividends`	`string`	Ordinary dividends received, reported on Schedule B.
`interest_income`	`form1040_schedule_b - interest_income`	`string`	Interest income received, reported on Schedule B.
`depletion`	`c. Depletion (Line 12)`	`string`	Deduction for using up natural resources like minerals or timber.
`net_profit`	`a. Net Profit or Loss (Line 31)`	`string`	Net profit or loss from business.
`depreciation`	`d. Depreciation (Line 13)`	`string`	Depreciation of assets used in the business.
`business_miles`	`Business Miles (Page 2, Part IV, Line 44a OR Related 4562, Line 30)`	`string`	Business-related mileage used for calculating expense deductions.
`amortization_loss`	`g. Amortization/Casualty Loss (Only add back Amort/CL - Review Schedule C Page 2, Part V*)`	`string`	Amortization or casualty loss added back per guidelines.
`depreciation_rate`	`X Depreciation Rate`	`string`	The rate used for depreciation calculations.
`business_use_of_home`	`f. Business Use of Home (Line 30, Check applicable guidelines)`	`string`	Expenses related to the home used for business purposes.
`non_recurring_other_income`	`b. Nonrecurring Other (Income) Loss/Expenses (Line 6)`	`string`	Non-recurring income or expenses not expected to continue.
`meals_and_entertainment_expenses`	`e. Non-deductible Meals and Entertainment Expenses (Line 24b)`	`string`	Expenses that cannot be deducted for meals and entertainment.
`recurring_capital_gains`	`form1040_schedule_d - recurring_capital_gains`	`string`	Gains from the sale of assets that occur regularly.
`depletion`	`form1040_schedule_e - depletion`	`string`	Depletion related to rental property.
`royalties`	`form1040_schedule_e - royalties`	`string`	Royalty income reported on rental schedules.
`total_expenses`	`form1040_schedule_e - total_expenses`	`string`	Total expenses associated with the rental property.
`amortization`	`form1040_schedule_f - amortization`	`string`	Amortization expenses for farming activities.
`depreciation`	`form1040_schedule_f - depreciation`	`string`	Depreciation specific to farming operations.
`net_farm_profit`	`form1040_schedule_f - net_farm_profit`	`string`	Net profit from farming operations.
`business_use_of_home`	`form1040_schedule_f - business_use_of_home`	`string`	Business use of home expenses for farming.
`non_tax_coop_payments`	`form1040_schedule_f - non_tax_coop_payments`	`string`	Payments from cooperatives that are not taxable.
`non_recurring_other_income`	`form1040_schedule_f - non_recurring_other_income`	`string`	Irregular income received from the farm or related activities.

"fields": [
  {
    "name": "w2_income",
    "value": "0.0",
    "title": "form_w2 - w2_income"
  },
  {
    "name": "dividends",
    "value": "0.0",
    "title": "form1040_schedule_b - dividends"
  },
  {
    "name": "interest_income",
    "value": "0.0",
    "title": "form1040_schedule_b - interest_income"
  },
  {
    "name": "depletion",
    "value": "0.0",
    "title": "c. Depletion (Line 12)"
  },
  {
    "name": "net_profit",
    "value": "0.0",
    "title": "a. Net Profit or Loss (Line 31)"
  },
  {
    "name": "depreciation",
    "value": "0.0",
    "title": "d. Depreciation (Line 13)"
  },
  {
    "name": "business_miles",
    "value": "0.0",
    "title": "Business Miles (Page 2, Part IV, Line 44a OR Related 4562, Line 30)"
  },
  {
    "name": "amortization_loss",
    "value": "0.0",
    "title": "g. Amortization/Casualty Loss (Only add back Amort/CL - Review Schedule C Page 2, Part V*)"
  },
  {
    "name": "depreciation_rate",
    "value": "0.0",
    "title": "X Depreciation Rate"
  },
  {
    "name": "business_use_of_home",
    "value": "0.0",
    "title": "f. Business Use of Home (Line 30, Check applicable guidelines)"
  },
  {
    "name": "non_recurring_other_income",
    "value": "0.0",
    "title": "b. Nonrecurring Other (Income) Loss/Expenses (Line 6)"
  },
  {
    "name": "meals_and_entertainment_expenses",
    "value": "0.0",
    "title": "e. Non-deductible Meals and Entertainment Expenses (Line 24b)"
  },
  {
    "name": "recurring_capital_gains",
    "value": "0.0",
    "title": "form1040_schedule_d - recurring_capital_gains"
  },
  {
    "name": "depletion",
    "value": "0.0",
    "title": "form1040_schedule_e - depletion"
  },
  {
    "name": "royalties",
    "value": "0.0",
    "title": "form1040_schedule_e - royalties"
  },
  {
    "name": "total_expenses",
    "value": "0.0",
    "title": "form1040_schedule_e - total_expenses"
  },
  {
    "name": "amortization",
    "value": "0.0",
    "title": "form1040_schedule_f - amortization"
  },
  {
    "name": "depreciation",
    "value": "0.0",
    "title": "form1040_schedule_f - depreciation"
  },
  {
    "name": "net_farm_profit",
    "value": "0.0",
    "title": "form1040_schedule_f - net_farm_profit"
  },
  {
    "name": "business_use_of_home",
    "value": "0.0",
    "title": "form1040_schedule_f - business_use_of_home"
  },
  {
    "name": "non_tax_coop_payments",
    "value": "0.0",
    "title": "form1040_schedule_f - non_tax_coop_payments"
  },
  {
    "name": "non_recurring_other_income",
    "value": "0.0",
    "title": "form1040_schedule_f - non_recurring_other_income"
  }
]

Calculated fields

Field name	Title	Data type	Description
`subtotal_schedule_c`	Subtotal Schedule C	`string`	Subtotal of income/expenses related to Schedule C (self-employment).
`subtotal_schedule_e`	subtotal_schedule_e	`string`	Subtotal of income/expenses related to Schedule E (rental, royalties).
`subtotal_schedule_f`	subtotal_schedule_f	`string`	Subtotal of income/expenses related to Schedule F (farming).
`total_mileage_depreciation`	= Total Mileage Depreciation	`string`	Combined total of mileage and depreciation deductions.

"calculated_fields": [
  {
    "name": "subtotal_schedule_c",
    "value": "0.0",
    "title": "Subtotal Schedule C"
  },
  {
    "name": "subtotal_schedule_e",
    "value": "0.0",
    "title": "subtotal_schedule_e"
  },
  {
    "name": "subtotal_schedule_f",
    "value": "0.0",
    "title": "subtotal_schedule_f"
  },
  {
    "name": "total_mileage_depreciation",
    "value": "0.0",
    "title": "= Total Mileage Depreciation"
  }
]

IRS Form 1065 - Partnership Income

Income reported by the partnership's earnings, losses, deductions, and credits to the Internal Revenue Service (IRS).

Captured fields

Field name	Title	Data type	Description
`depletion`	`d. Depletion (Line 17)`	`string`	Deduction related to the depletion of natural resources.
`amortization`	`e. Amortization/Casualty (Review Attachment Related to (Line 20, Other deductions**)`	`string`	Amortization or casualty loss deduction.
`depreciation`	`c. Depreciation (Line 16c, including 8825 Line 14)`	`string`	Depreciation deduction, including related forms.
`non_recurring_other_income`	`b. Nonrecurring Other (Income) or Loss (Lines 5, 6 & 7)`	`string`	Unusual or nonrecurring income or losses.
`ordinary_income_from_other_partnerships`	`a. Ordinary (Income) Loss from Other Partnerships (Line 4)`	`string`	Income/loss from other partnership investments.
`ordinary_income`	`a. Ordinary Income/Loss (Line 1)*Review for Distribution Line 19A`	`string`	General partnership ordinary income/loss.
`percent_ownership`	`Percent Ownership (From Schedule K-1)`	`string`	Partner’s ownership percentage as reported.
`guaranteed_payments`	`c. Guaranteed Payments to Partner (Line 4c)`	`string`	Payments to partners regardless of profit.
`net_rental_real_estate`	`b. Net Rental Real Estate; Other Net Income (Loss) (Lines 2, 3)*`	`string`	Net rental income or other passive income.
`mortgages_payable`	`f. Mortgages or Notes Payable in Less than 1 Year (Schedule L, Line 16d***)`	`string`	Short-term debt obligations on Schedule L.
`travel_and_entertainment_expenses`	`g. Non-deductible Travel and Entertainment Expenses (Schedule M-1, Line 4b)`	`string`	Expenses not deductible under IRS rules.

"fields": [
  {
    "name": "depletion",
    "value": "10.0",
    "title": "d. Depletion (Line 17)"
  },
  {
    "name": "amortization",
    "value": "10.0",
    "title": "e. Amortization/Casualty (Review Attachment Related to (Line 20, Other deductions**)"
  },
  {
    "name": "depreciation",
    "value": "10.0",
    "title": "c. Depreciation (Line 16c, including 8825 Line 14)"
  },
  {
    "name": "non_recurring_other_income",
    "value": "10.0",
    "title": "b. Nonrecurring Other (Income) or Loss (Lines 5, 6 & 7)"
  },
  {
    "name": "ordinary_income_from_other_partnerships",
    "value": "10.0",
    "title": "a. Ordinary (Income) Loss from Other Partnerships (Line 4)"
  },
  {
    "name": "ordinary_income",
    "value": "10.0",
    "title": "a. Ordinary Income/Loss (Line 1)*Review for Distribution Line 19A"
  },
  {
    "name": "percent_ownership",
    "value": "5.0",
    "title": "Percent Ownership (From Schedule K-1)"
  },
  {
    "name": "guaranteed_payments",
    "value": "10.0",
    "title": "c. Guaranteed Payments to Partner (Line 4c)"
  },
  {
    "name": "net_rental_real_estate",
    "value": "10.0",
    "title": "b. Net Rental Real Estate; Other Net Income (Loss) (Lines 2, 3)*"
  },
  {
    "name": "mortgages_payable",
    "value": "10.0",
    "title": "f. Mortgages or Notes Payable in Less than 1 Year (Schedule L, Line 16d***)"
  },
  {
    "name": "travel_and_entertainment_expenses",
    "value": "10.0",
    "title": "g. Non-deductible Travel and Entertainment Expenses (Schedule M-1, Line 4b)"
  }
]

Calculated fields

Field name	Title	Data type	Description
`subtotal`	`Subtotal`	`string`	Total of relevant subtotal items.
`total_form1065`	`Total Form 1065`	`string`	Total income reported from IRS Form 1065.
`total_partnership_income`	`Total Partnership Income`	`string`	Combined income from all partnership sources.

"calculated_fields": [
  {
    "name": "subtotal",
    "value": "30.0",
    "title": "Subtotal"
  },
  {
    "name": "total_form1065",
    "value": "1.5",
    "title": "Total Form 1065"
  },
  {
    "name": "total_partnership_income",
    "value": "31.5",
    "title": "Total Partnership Income"
  }
]

IRS Form 1120 - Regular Corporation

Income derived from a C Corporation, reported on IRS Form 1120, including taxable income, depreciation, amortization, and other deductible adjustments.

Captured fields

Field name	Title	Data type	Description
`depletion`	`f. Depletion (Line 21)`	`string`	Deduction related to the depletion of natural resources.
`total_tax`	`b. Total Tax (Line 31)`	`string`	Total tax reported on the return.
`amortization`	`g. Amortization/Casualty Loss (Review Attachment Related to Line 26, Other deductions*)`	`string`	Amortization or casualty loss deduction.
`depreciation`	`e. Depreciation (Line 20)`	`string`	Depreciation deduction.
`taxable_income`	`a. Taxable Income (Line 30)`	`string`	Net taxable income.
`net_operating_loss`	`h. Net Operating Loss and Special Deductions (Line 29c)`	`string`	Deductible losses and special tax deductions.
`non_recurring_gains`	`c. Nonrecurring (Gains) Losses (Lines 8, 9)`	`string`	Unusual or infrequent gains or losses.
`non_recurring_other_income`	`d. Nonrecurring Other (Income) Loss (Line 10)`	`string`	Other nonrecurring income or loss.
`dividends`	`b. Ordinary Dividends (Line 5)`	`string`	Income from dividends.
`interest_income`	`a. Interest Income (Line 1)`	`string`	Income from interest-bearing accounts.
`mortgages_payable`	`i. Mortgages or Notes Payable in Less than 1 Year (Schedule L, Line 17d**)`	`string`	Short-term liabilities reported on Schedule L.
`travel_and_entertainment_expenses`	`j. Non-deductible Travel and Entertainment Expenses (Schedule M-1, Line 5c)`	`string`	Expenses that are not deductible for tax purposes.

"fields": [
  {
    "name": "depletion",
    "value": "0.0",
    "title": "f. Depletion (Line 21)"
  },
  {
    "name": "total_tax",
    "value": "0.0",
    "title": "b. Total Tax (Line 31)"
  },
  {
    "name": "amortization",
    "value": "0.0",
    "title": "g. Amortization/Casualty Loss (Review Attachment Related to Line 26, Other deductions*)"
  },
  {
    "name": "depreciation",
    "value": "0.0",
    "title": "e. Depreciation (Line 20)"
  },
  {
    "name": "taxable_income",
    "value": "0.0",
    "title": "a. Taxable Income (Line 30)"
  },
  {
    "name": "net_operating_loss",
    "value": "0.0",
    "title": "h. Net Operating Loss and Special Deductions (Line 29c)"
  },
  {
    "name": "non_recurring_gains",
    "value": "0.0",
    "title": "c. Nonrecurring (Gains) Losses (Lines 8, 9)"
  },
  {
    "name": "non_recurring_other_income",
    "value": "0.0",
    "title": "d. Nonrecurring Other (Income) Loss (Line 10)"
  },
  {
    "name": "dividends",
    "value": "0.0",
    "title": "b. Ordinary Dividends (Line 5)"
  },
  {
    "name": "interest_income",
    "value": "0.0",
    "title": "a. Interest Income (Line 1)"
  },
  {
    "name": "mortgages_payable",
    "value": "0.0",
    "title": "i. Mortgages or Notes Payable in Less than 1 Year (Schedule L, Line 17d**)"
  },
  {
    "name": "travel_and_entertainment_expenses",
    "value": "0.0",
    "title": "j. Non-deductible Travel and Entertainment Expenses (Schedule M-1, Line 5c)"
  }
]

Calculated fields

Field name	Title	Data type	Description
`subtotal`	`Subtotal`	`string`	Total of relevant subtotal items.
`total_form11120`	`Total Form 1120`	`string`	Total income reported from IRS Form 1120.

"calculated_fields": [
  {
    "name": "subtotal",
    "value": "0.0",
    "title": "Subtotal"
  },
  {
    "name": "total_form1120",
    "value": "0.0",
    "title": "Total Form 1120"
  }
]

IRS Form 1120S - S Corporation Earnings

Income reported by shareholders of an S Corporation on IRS Form 1120S typically reflects ordinary business income, shareholder distributions, and deductible adjustments.

Captured fields

Field name	Title	Data type	Description
`depletion`	`c. Depletion (Line 15)`	`string`	Deduction related to the depletion of natural resources.
`amortization`	`d. Amortization/Casualty Loss (Review Attachment Related to Line 19, Other deductions**)`	`string`	Amortization or casualty loss deduction
`depreciation`	`b. Depreciation (Line 14, including 8825 Line 14)`	`string`	Depreciation deduction, including related forms.
`non_recurring_other_income`	`a. Nonrecurring Other (Income) Loss (Lines 4, 5)`	`string`	Irregular or exceptional other income or losses.
`ordinary_income`	`a. Ordinary Income (Loss) (Line 1)*Review for Distribution Line 16D`	`string`	Ordinary income/loss from the partnership.
`percent_ownership`	`Percent Ownership (From Schedule K-1, Line G) % %`	`string`	Partner’s ownership percentage as reported on Schedule K-1.
`net_rental_real_estate`	`b. Net Rental Real Estate; Other Net Rental Income (Loss) (Lines 2, 3)*`	`string`	Rental income or loss from real estate and related activities.
`mortgages_payable`	`e. Mortgages or Notes Payable in Less than 1 Year (Schedule L, Line 17d***)`	`string`	Current liabilities or short-term debts.
`travel_and_entertainment_expenses`	`f. Non-deductible Travel and Entertainment Expenses (Schedule M-1, Line 3b) - Subtotal`	`string`	Non-deductible expenses related to travel and entertainment.

"fields": [
  {
    "name": "depletion",
    "value": "0.0",
    "title": "c. Depletion (Line 15)"
  },
  {
    "name": "amortization",
    "value": "0.0",
    "title": "d. Amortization/Casualty Loss (Review Attachment Related to Line 19, Other deductions**)"
  },
  {
    "name": "depreciation",
    "value": "0.0",
    "title": "b. Depreciation (Line 14, including 8825 Line 14)"
  },
  {
    "name": "non_recurring_other_income",
    "value": "0.0",
    "title": "a. Nonrecurring Other (Income) Loss (Lines 4, 5)"
  },
  {
    "name": "ordinary_income",
    "value": "0.0",
    "title": "a. Ordinary Income (Loss) (Line 1)*Review for Distribution Line 16D"
  },
  {
    "name": "percent_ownership",
    "value": "0.0",
    "title": "Percent Ownership (From Schedule K-1, Line G) % %"
  },
  {
    "name": "net_rental_real_estate",
    "value": "0.0",
    "title": "b. Net Rental Real Estate; Other Net Rental Income (Loss) (Lines 2, 3)*"
  },
  {
    "name": "mortgages_payable",
    "value": "0.0",
    "title": "e. Mortgages or Notes Payable in Less than 1 Year (Schedule L, Line 17d***)"
  },
  {
    "name": "travel_and_entertainment_expenses",
    "value": "0.0",
    "title": "f. Non-deductible Travel and Entertainment Expenses (Schedule M-1, Line 3b) - Subtotal"
  }
]

Calculated fields

Field name	Title	Data type	Description
`subtotal`	`Subtotal`	`string`	Total of relevant subtotal items.
`total_form11120s`	`Total Form 1120s`	`string`	Total income reported from IRS Form 1120s.
`total_s_corp_income`	`Total S-Corp Income`	`string`	Total S corporation income reported.

"calculated_fields": [
  {
    "name": "subtotal",
    "value": "0.0",
    "title": "Subtotal"
  },
  {
    "name": "total_form1120s",
    "value": "0.0",
    "title": "Total Form 1120S"
  },
  {
    "name": "total_s_corp_income",
    "value": "0.0",
    "title": "Total S-Corp Income"
  }
]

Totals

Field name	Title
`partnership_income`	Partnership Income
`regular_corp_income`	Regular Corporation Income
`s_corp_income`	S Corporation Income
`schedule_c`	Schedule C
`schedule_e`	Schedule E
`schedule_f`	Schedule F
`total`	Recommended Income
`ytd_profit_and_loss`	YTD Profit and Loss Statement

{
  "total": "Recommended Income",
  "schedule_c": "Schedule C",
  "schedule_f": "Schedule F",
  "schedule_e": "Schedule E",
  "s_corp_income": "S Corporation Income",
  "partnership_income": "Partnership Income",
  "ytd_profit_and_loss": "YTD Profit and Loss Statement",
  "regular_corp_income": "Regular Corporation Income",
}

Updated 1 day ago