<title>Learn about other income from your business</title>
<category>biz</category>
<klink type="cncpt">Tell me about other income from my business</klink>
</index>
<content>
<p>Some types of income related to your business are not considered part of gross sales or receipts from normal business operations. You report these types of income as "other income" on Part I of Schedule C. These types of income include:</p>
<ul>
<li>Prizes and awards related to your business.</li>
<li>Income from scrap sales.</li>
<li>Income recovered from bad debts that you deducted as an expense in a prior year.</li>
<li>Federal and state gasoline or fuel tax credits and refunds.</li>
<li>Other miscellaneous income that is not earned in your main form of business.</li>
<li>Interest earned on notes or accounts receivable.</li>
</ul>
<p>Do not report interest earned on a business bank account for your sole proprietorship as business income. Instead, report it in the Interest Income section of your personal tax return. Interest income from your business bank account is not the same as self-employment income earned from your trade or business, and it is therefore not subject to self-employment tax. See your accountant for more detailed information.</p>
