Correction to the 2011 Instructions for Schedule C (Form 1040), Profit or Loss From Business -- 15-DEC-2011
If you downloaded the 2011 Instructions for Schedule C before December 8, 2011, please note the following correction.
On page C-5, the second sentence under Line 9 should be replaced with the following two sentences. "This is true even if you used your vehicle for hire (such as a taxicab). You must use actual expenses if you used five or more vehicles simultaneously in your business (such as in fleet operations)."
The corrected version of the 2011 Instructions for Schedule C (Form 1040) is now available.