Reports
Your business tax summary (Schedule C)
See your year's income and expenses on the lines of the tax form, with an estimate of net profit.
Open Reports › [Business tax summary](/reports/tax-summary) and pick the tax year. Your income and expenses are grouped the way Schedule C (Form 1040) asks for them, with net profit at the top.
TallyPip guesses each account's line from its name. If one is wrong, pick the right line next to it; TallyPip remembers. Choose Not deductible for costs that don't count, like fines.
Meals count at 50%, as the IRS allows. Mileage, home office and depreciation aren't included: your accountant adds those. This is an estimate to take to them, not tax advice.