(using Turbo Tax Business)
Years ago an accountant told me the "Other" business code was 999999. But it didn't work efiling, so trial and error got 999000 to efile for some yrs now. But currently I don't see 999000 on the list at (https://www.irs.gov/pub/irs-soi/17pf_business_codes.pdf)
Question:
We have an LLC that does nothing but hold a Mortgage Loan Note on some property we sold. The Interest paid on the loan is passed through to the members as taxable passive income. Looking at what that list does show I'm guessing that 999003 (Passive income activities with controlled organizations) would apply. Anyone have input on this?
