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ToddL99Answer
Alumni - Intuit
Mar 21, 2021 2:20 PM UTC

Unless you are an attorney specializing in trustee services, there is no specific business code for a "Trustee".

 

For an individual performing trustee duties for a friend or relative, I suggest  "812990 - All other personal services".

2 replies

Level 15
Mar 21, 2021 2:15 PM UTC

Are you a professional fiduciary?

 

If you are not a professional fiduciary, then you do not need a business code; the fee you receive should not be reported on Schedule C (it is miscellaneous income).

 

If you are a professional fiduciary, you can always use "999999" for unclassified or choose a code for one of the professional services.

 

See https://www.irs.gov/instructions/i1040sc#idm140094050353104

ToddL99Answer
Alumni - Intuit
Mar 21, 2021 2:20 PM UTC

Unless you are an attorney specializing in trustee services, there is no specific business code for a "Trustee".

 

For an individual performing trustee duties for a friend or relative, I suggest  "812990 - All other personal services".