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New Member
posted Mar 9, 2025 10:11:11 AM

What is the definition of a business description on taxes?

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2 Replies
Expert Alumni
Mar 10, 2025 7:23:50 AM

It depends. I'm not sure if you are referring to a specific tax form, but for instance a Schedule C asks you to describe the activity or business that generated the income. Here you would describe the business in a broad sense, like real estate agent, content creator, electrical contractor, or whatever it is that you do.

 

If this does not answer your question, please give us more context for your question and we can answer more completely.

 

Level 15
Mar 10, 2025 7:36:17 AM

Is it asking for the Business Code?  The Business Code is a 6 digit number for your activity. Here are the IRS instructions for Schedule C. Business codes start on page 18.
http://www.irs.gov/pub/irs-pdf/i1040sc.pdf