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Level 1
June 4, 2019
Solved

Help with misc. income

  • June 4, 2019
  • 1 reply
  • 11 views

what is the principal business code?

Best answer by cameaf

The principal business codes are based on the North American Industry Classification System and designed to classify a business by the type of activity in which it is engaged to facilitate the administration of the Internal Revenue Code. You can find all of the codes by clicking the link below. Choose which code best matches the type of work the miscellaneous income you have is related to.

https://www.irs.gov/pub/irs-pdf/i1040sc.pdf

1 reply

cameafAnswer
Level 8
June 4, 2019

The principal business codes are based on the North American Industry Classification System and designed to classify a business by the type of activity in which it is engaged to facilitate the administration of the Internal Revenue Code. You can find all of the codes by clicking the link below. Choose which code best matches the type of work the miscellaneous income you have is related to.

https://www.irs.gov/pub/irs-pdf/i1040sc.pdf