Washington Financial Statement — Sole Proprietor and Individuals is a financial statement that is prepared by a sole proprietor or individual to report their income, expenses, and assets to the state of Washington. This statement is used to calculate the amount of tax due and to ensure compliance with state tax laws. Depending on the type of business, there are three types of Washington Financial Statements — Sole Proprietor and Individuals: 1) Business/Professional Income Tax Return, 2) Self-Employment Tax Return, and 3) Personal Property and Real Estate Tax Return. The Business/Professional Income Tax Return is used to report income from a variety of sources such as sales, services, rental income, and royalties. The Self-Employment Tax Return is used to report income from self-employed activities, such as independent contracting. The Personal Property and Real Estate Tax Return is used to report income from the sale of real estate and personal property such as furniture, jewelry, and vehicles.