Form 1065 LLC partnership

[GregHun]

Dear TT,

I have a LLC, let's call it LLC A, that was opened in 2012 and it acted as a LLC which had partners and this LLC was another LLC B that had rental properties.  under it. In 2019, LLC A became its own LLC and no properties under it and just had members as we wanted to use it for flipping properties and a CPA helped us file it. In 2021 it will be the first year where we are going to attempt it ourselves using Turbo Tax.

Question: The principal business activity still is Real Estate. The principal product or service is what we can't figure what it should be as when we do buy properties, they will not be rentals but buy and sell. And also what business code number to use? The CPA for 2019 and 2020 was using 531110 still. And this year 2021 there are no properties in the LLC and neither were there any in 2020.

The LLC B came to have the same members and then properties under it as rental properties so no question on LLC B.

Thank you,

Greg

[FangxiaL]

Here is what I found:

The NAICS Code for "real estate flipping" is 236118, which is categorized under NAICS Code 236128 - Residential Remodelers.