Find the business activity codes on the instructions for Schedule C. For the 2011 tax year, codes were listed on page C-9 of the instructions. Please try again later. She also tutored in English for nearly eight years, attended Buffalo State College for paralegal studies and accounting, and minored in English literature, receiving a Bachelor of Arts. She has written for The Balance on U.S. business law and taxes since 2008. If you don't see a description within a category that applies to your business, you might want to choose a description that starts with "Other" or "All other," such as "Other transit & ground passenger transportation" (485990) or "All other personal services" (812990). Business owners who file Schedule C must choose the activity code that best describes the source of their revenue. How to Determine Business Activity Code for Schedule C. You can file Schedule C-EZ if your business meets the requirements set by the IRS, as found on the Schedule C-EZ form. General business fields are marked in bold headings, with sub-headings and specific job categories listed underneath. "North American Industry Classification System: Frequently Asked Questions (FAQs)." For example, if you own a coffee shop, you would first go to the Accommodation, Food Services, & Drinking Places category. … "Table of Small Business Size Standards Matched to North American Industry Classification System Codes," Page 1.
The codes are based on the North American Industry Classification System. "2019 Instructions for Schedule C," Page 17. Enter the code for your business on line B of Schedule C. Use the code list to find the correct code for your business. You can update your six-digit Business Code by going back to Edit the Business Profile. U.S. Census Bureau. The Balance Small Business uses cookies to provide you with a great user experience. Schedule c sole proprietorship business code where do i enter my income for shedule c on my return.
(See below for a reference of what the Business Codes are.) It is used by the Internal Revenue Service, the U.S. Small Business Administration, and other U.S. government agencies. 0 1 99 Reply. Enter the principal business description on Schedule K, Line 2b. Then select the activity that best identifies the principal source of your sales or receipts (for example, real estate agent). For information on which Business Activity code to use on Schedule C, refer to the IRS website. State and federal laws change frequently, and the information in this article may not reflect your own state’s laws or the most recent changes to the law. On the NAICS website, they're listed in numerical order. A schedule of the principal business codes (PBCs) is given in the instructions for IRS Schedule C, which is used to report a profit or loss from a sole proprietorship or single-member LLC, and in the instructions for other business tax forms. … For example, the code for a child day care worker would use code 624410 for "Child day care services," found under the sub-heading of "Social Assistance," which in turn is under "Health Care & Social Assistance.". You use Schedule C to report your earnings, expenses and other information about your business to the Internal Revenue Service. Internal Revenue Service. Code 999999 is the code the IRS uses for unclassified establishments. "North American Industry Classification System, United States, 2017," Page 79. Note: If your principal source of income is from farming activities, you should file Schedule F. You have been successfully added to the TaxAct Do Not Sell list. Exterminating & pest control services 561210 . Now find the six-digit code assigned to this activity (for example, 531210, the code for offices of real estate agents and brokers) and enter it on Schedule C or C-EZ, line B.