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yousuf-saifullah
Returning Member

I am filling Business:1065 form. The TurboTax SW got stuck on this question in 199A Worksheet: line 4: Specified Service Trade or Business? Yes/No. How to ans this?

 
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MinhT
Expert Alumni

I am filling Business:1065 form. The TurboTax SW got stuck on this question in 199A Worksheet: line 4: Specified Service Trade or Business? Yes/No. How to ans this?

The IRS defines a Specified Service Trade or Business as follows:

Specified service trade or business (SSTB) includes a trade or business involving the performance of services in the fields of health, law, accounting, actuarial science, performing arts, consulting, athletics, financial services, investing and investment management, trading, dealing in certain assets or any trade or business where the principal asset is the reputation or skill of one or more of its employees.

This definition will help you answer the question. If your business meets the definition above, then answer Yes. Otherwise, answer No.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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MinhT
Expert Alumni

I am filling Business:1065 form. The TurboTax SW got stuck on this question in 199A Worksheet: line 4: Specified Service Trade or Business? Yes/No. How to ans this?

The IRS defines a Specified Service Trade or Business as follows:

Specified service trade or business (SSTB) includes a trade or business involving the performance of services in the fields of health, law, accounting, actuarial science, performing arts, consulting, athletics, financial services, investing and investment management, trading, dealing in certain assets or any trade or business where the principal asset is the reputation or skill of one or more of its employees.

This definition will help you answer the question. If your business meets the definition above, then answer Yes. Otherwise, answer No.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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