Documents Sole-Proprietors, Companies Without Employees & Independent Contractors Should Have On-Hand​

If you are a sole proprietor or are self-employed without employees, we recommend having these documents available:

Your 1040 Schedule C, if filed for 2019; or but if not filed, a draft 1040 Schedule C for 2019;

Your Income and Expense report; this is typically at Profit & Loss Statement;

Your 2019 IRS Form 1099-Misc, which provides non-employee compensation received (box 7);

Your invoices, bank statements, or book of records showing that you were self-employed in 2019 and a 2020 invoice, bank statement or book of records showing you operations on February 15, 2020 or later.

If you operate as an independent contractor, we recommend that you have on-hand:

Form 1099-MISC for 2019, for services rendered as an independent contractor.