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msellaneous77
New Member

My business was originally janitorial but now is a financial consulting sole proprietor business, Should I change the code on my taxes or leave it as janitorial?

 
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WillK
Level 9

My business was originally janitorial but now is a financial consulting sole proprietor business, Should I change the code on my taxes or leave it as janitorial?

It depends on when you switched the company over.

If you were a janitorial company all of 2016 you should report the code for the janitorial company.

If you switched during 2016, your firs Schedule C should have the code that went with that income and then the second Schedule C should have the code what went with that income.

You should file 2 separate Schedule C's since the companies are different. 

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WillK
Level 9

My business was originally janitorial but now is a financial consulting sole proprietor business, Should I change the code on my taxes or leave it as janitorial?

It depends on when you switched the company over.

If you were a janitorial company all of 2016 you should report the code for the janitorial company.

If you switched during 2016, your firs Schedule C should have the code that went with that income and then the second Schedule C should have the code what went with that income.

You should file 2 separate Schedule C's since the companies are different. 

**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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