☰
✕
Sign In

Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Mar 10, 2024 8:11:11 AM

Renting A Room in my Primary Residence, What is My Business Category?

I bought a house in May 2023. And, I have rented part of the house since then -- what business code (category) do I put down for my small business renting out 2/3 of my primary residence.

 

 

0 1 919
1 Best answer
Expert Alumni
Mar 10, 2024 8:22:33 AM

The principal business code is a six digit number  that represents the field of work you are in. This code is entered on your Schedule C. The complete list of codes can be found on  pages 18 to 20 of this IRS document.

 

For your real estate rental business, you could use code 531100 

 

This code is for statistical purposes only and doesn't affect your tax. 

1 Replies
Expert Alumni
Mar 10, 2024 8:22:33 AM

The principal business code is a six digit number  that represents the field of work you are in. This code is entered on your Schedule C. The complete list of codes can be found on  pages 18 to 20 of this IRS document.

 

For your real estate rental business, you could use code 531100 

 

This code is for statistical purposes only and doesn't affect your tax.