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Schedule C Expenses - Pension and Profit Sharing

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Schedule C Expenses - Pension and Profit Sharing


Enter your deduction for contributions to a pension, profit-sharing, or annuity plan, or plan for the benefit of your em-ployees. If the plan included you as a self-employed person, enter contribu-tions made as an employer on your be-half on Form 1040, line 28, or Form 1040NR, line 28, not on Schedule C.

In most cases, you must file the ap-plicable form listed below if you main-tain a pension, profit-sharing, or other funded-deferred compensation plan. The filing requirement is not affected by whether or not the plan qualified under the Internal Revenue Code, or whether or not you claim a deduction for the cur-rent tax year. There is a penalty for fail-ure to timely file these forms.

Form 5500-EZ. File this form if you have a one-participant retirement plan that meets certain requirements. A one-participant plan is a plan that covers only you (or you and your spouse).

Form 5500-SF. File this form electron-ically with the Department of Labor (at if you have a small plan (fewer than 100 participants in most cases) that meets certain require-ments.

Form 5500. File this form electronical-ly with the Department of Labor (at for a plan that does not meet the requirements for filing Form 5500-EZ or Form 5500-SF.


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Views: 1103 Created on: Jun 15, 2013
Date updated: Sep 16, 2015

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