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Business & farm
Here is the list of Principal Business Codes. Basically, it is asking what industry you were working in the reason you received the 1099-NEC. For example, if you were a subcontracting auto tech then you would enter the code 811110 Automotive mechanical & electrical repair & maintenance.
This is just for statistical purposes. It does not affect your return in any way.
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‎February 24, 2025
1:49 PM