Where to Enter the Principal Business Activity And Code Number - Business Returns
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The 6-digit Principal Business Activity Code for a business must be entered in the tax return in order to file the return electronically. This requirement is for corporations, S corporations, partnerships, and exempt entities with unrelated business taxable income. (Tax-exempt entities filing Form 990, 990-EZ, or 990-N, as well as estates and trusts filing Form 1041 aren't required to enter a prinicipal business activity code.)
In Tax Processors Plus Desktop, when you arrive at the menu to enter the code, if you aren't sure what code to enter there are two buttons that can assist:
The first button shows a list in PDF form from the IRS instructions that you can parse to find the right code. The second button navigates the list by category, allowing you to select the code to be used.
Form 1120
From the Main Menu of the tax return (Form 1120) select:
- Schedule K - Other Information
- Business Activity Code No.
- Business Activity
Form 1120-S
From the Main Menu of the tax return (Form 1120-S) select:
- Heading Information
- Other Information
- Business Code
Form 1065
From the Main Menu of the tax return (Form 1065) select:
- Heading Information
- Other Categories
- Business Code
- Principal Business Activity
Form 990-T (Schedule A)
From the Main Menu of the tax return (Form 990-T) select:
- Taxable Income
- Total Unrelated Business Taxable Income (Schedule A) - Select the business activity from the list, or select New to start a record.
- Unrelated Business Activity Code
- Enter the Principal Business Code
Additional Information: