Schedule C tax return codes for tax years 2020 and after

TRC	Description	Tax Return Line
34-215	Sch K: Guaranteed Payments to Partners (Services)	Sch C line 9
34-210	Sch K: Guaranteed Payments to Partners (Capital)	Sch C line 9
34-743	Sch K: IRC Sec. 743(b) Positive Adjustments	Sch C line 9
34-745	Sch K: Sec. 951A income	Sch C line 9
34-755	Sch K: Sec. 965(a) income	Sch C line 9
34-765	Sch K: Subpart F income	Sch C line 9
44-743	Sch K: IRC Sec. 743(b) Negative Adjustments	Sch C line 17
44-910	Sch K: Foreign Taxes	Sch C line 21a

TRCs are mapped to the tax year 2020 and later Schedule C as follows:

Tax Return Line	Included TRCs
1a Gross receipts or sales	30-100
1b Returns and allowances	30-105
2 Costs of goods sold	40-11 through 40-280
4 Dividends	31-108 through 31-185, 34-410, 34-412
5 Interest	31-340, 31-380, 34-300, 34-310
6a Gross rents	31-420
6b Gross royalties and license fees	31-520, 34-470
7 Net gain or (loss) on sale of capital assets	31-620, 34-500 through 34-600
8a Foreign currency transaction gain or loss - unrealized	31-385
8b Foreign currency transaction gain or loss - realized	31-387
9 Other income	31-570, 31-640 through 34-210, 34-710 through 34-800
11 Compensation not deducted elsewhere	41-210, 41-220, 41-221, 41-230
12a Rents	41-350
12b Royalties and license fees	41-825
13 Interest	41-500
14 Depreciation not deducted elsewhere	41-540
15 Depletion	41-560
16 Taxes (exclude income tax expense (benefit))	41-420
17 Other deductions (exclude income tax expense (benefit))	41-260, 41-300, 41-520, 41-570 through 41-820, 41-900 through 44-800
20 Unusual or infrequently occurring items	41-830
21a Income tax expense (benefit) – current	41-400, 41-440, 41-460, 41-840, 44-910
21b Income tax expense (benefit) - deferred	41-445

This article applies to: