Business Code missing

acloy
acloy Member Posts: 1 Newcomer
in Filing my taxes

The business code I have used in the past is 541519, however the closest number I can get to on FreeTaxUSA is 541510. Is there a way to get the number I need, or should I use 541510, or unspecified?

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Answers

  • panickyfloppy
    panickyfloppy Member Posts: 13

    I just usually use unspecified if nothing else matches up well, but if 541540 fits - use it. These codes are just for statistics for the IRS, so they aren't that important.

  • MatthewD
    MatthewD FreeTaxUSA Team Posts: 588

    hi acloy,

    Business codes identify a type of activity. The IRS uses these business codes to process your profit and loss accurately and compare it to others in your industry. It's mainly just a way for the IRS to briefly check your expense compared to the industry standard. 

     

    The business code 541519 describes "Other Computer Related Services". (This code encompasses a wider variety of computer-related services that are not classified under the other specific computer-related codes.)

    While the other code, 541510 describes "Computer Systems Design and Related Services" 

    If you decide that your business can be classified under the code 541510 then you would select that. 

    If your business does not qualify under that code and you cannot find a different corresponding code (like 541519), you can select the code 999000 for "unclassified establishments.

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