Schedule C – Accounting Method
There are two main methods of accounting available for a business to use:
- cash method
- accrual method
To change your method of accounting, you generally must file Form 3115. You can use the Forms Assistant to search for and add Form 3115 to your return.
- In dashboard navigation, go to Resources, scroll to the Assistants section, and select Forms Assistant.
- In classic navigation, click Tools > Forms Assistant.
- On desktop, click Forms and locate the federal form in the Forms Explorer.
Form 3115 can be e-filed with the return. If you need to attach any form that is not supported for e-file, you can use Form 8453.
Additional Information
- IRS Publication 535
- IRS Publication 538