The Schedule C (Form 1040), Profit or Loss from Business skill extracts data from Schedule C supplement documents to Forms 1040. A Schedule C is a document used by taxpayers to report income or loss from a business they operated or a profession they practiced as a sole proprietor. An activity qualifies as a business if:

• the primary purpose for engaging in the activity is for income or profit;
• the reporter is involved in the activity with continuity and regularity.

The Schedule C (Form 1040), Profit or Loss from Business skill is a preview skill. It has been trained on a small document set and is intended to be used by citizen developers as a quick-start basis for processing Schedule C documents. The skill may require further training on your specific documents in order to be used in production scenarios.

• Vantage document skills are extraction models, based on ABBYY's purpose-built AI, designed and trained to extract key data from business documents.
• Preview document skills provide a quick-start basis for conducting proof of concept and automating document-centric processes, without wasting time to train a new skill from the ground up. In most preview skills the main data fields have been labeled and the skill has been trained on a small document set to provide a starting point for further training on customer side. Preview skills generally come at no additional cost, but consume page volume from the base Vantage Core Skills volume.
• The model automatically detects key fields on Schedule C (Form 1040) documents and extracts relevant data (fiscal year, proprietor name, SSN, EIN, Business name, payments in fiscal year etc.). For a full list of extracted fields, please see the skill documentation.
• Includes validation and data normalization rules. Further business rules can be added as required.
• Can be augmented by human-in-the-loop review and verification based on accuracy thresholds, missing or incorrect information.
• Requires further training in order to ensure sufficient accuracy levels on customer-specific documents. Training can be done up-front or during runtime as documents arrive and go through manual verification.