Income

The Income tab in the return is the equivalent of the Profit & Loss section of the company's paper returns.

Income and Expense Information for Item 6:

• Item 6 - Income Labels.

• Item 6 - Expense Labels.

• Item 7 - Reconciliation to taxable income or loss.

CCH References

7-050 Small business entities

10-000 Overview of assessable income

10-005 Checklist of taxable and non-taxable items