249152
On a previous return I had some business income that might have required a Sch C, but now I am retired and no longer have that income. One of my K-1s is generating the CA form 3514 with a request for "Business code (from Fed Sch C (Form 1040), box B)". How do I get around this?
You'll need to sign in or create an account to connect with an expert.
The business code is not on K-1s but is on the 1065/1120S main form. You'll have to contact the K-1 provider for that information.
The list of business codes for Schedule C is at the end of the instructions: https://www.irs.gov/pub/irs-pdf/i1040sc.pdf
Or if you have a good idea of what the K-1 business is then you may be able to look it up yourself: https://www.naics.com/search/
The business code is not on K-1s but is on the 1065/1120S main form. You'll have to contact the K-1 provider for that information.
The list of business codes for Schedule C is at the end of the instructions: https://www.irs.gov/pub/irs-pdf/i1040sc.pdf
Or if you have a good idea of what the K-1 business is then you may be able to look it up yourself: https://www.naics.com/search/
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
Ginola_89
New Member
jaydennis66
New Member
ashleybellas
New Member
joegrant175
New Member
koehler_liz
New Member