For income tax, a sole proprietor files 1040 individual tax and Schedule C: Profit or Loss from Business.If you own self-employed tax (net earning of $400 or more), you need to complete a Schedule SE.Other forms include the following for Social security and Medicare taxes and income taxes withholding.941, Employer's Quarterly Federal Tax Return943, Employer's Annual Federal Tax Return for Agricultural Employees944, Employer's Annual Federal Tax ReturnFederal unemployment (FUTA) tax940, Employer's Annual Federal Unemployment (FUTA) Tax ReturnYou may also need to make estimated tax payment quarterly if you do not have taxes withheld.1040-ES, Estimated Tax for IndividualsSole Proprietorships