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5. BUSINESS INCOME / (LOSS) FROM SCHEDULE C OR C-EZ.

Report the net business income or loss from federal Schedule C or C-EZ. Attach a copy of the federal form.

The IA 4562A (pdf) may need to be completed if the taxpayer claimed the bonus depreciation/section 179 deduction on the federal return. For more information on bonus depreciation/section 179, see information on line 14.

If one spouse has a loss, the couple may want to determine if filing status 2 is to their advantage.

Married Separate Filers:

Reported by the spouse deriving the income or loss.

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