The Financial Statement Schedule A (CJD-301) is a form used in Massachusetts for individuals who are self-employed. It is attached to the financial statement to detail monthly self-employment or business income. This schedule is similar to the federal income tax return’s Schedule C, which reports profit or loss from a business.
Key points about Schedule A include:
- It requires information about the individual’s net business income, excluding depreciation as it is not an actual cash expense.
- It helps the court understand the financial situation of a self-employed individual by providing a detailed breakdown of income and expenses.
- It is important to ensure that business expenses are not duplicated as personal expenses on the financial statement.
