Tax Filing Business Category

1

Hello and thank you in advance. I am filing my business taxes for the first time this year and am using TaxAct. I am currently working on my schedule-C and am trying to pick my business Category. I am currently leaning towards one of these two, I will list them out as written in the tax software.

Construction and Home Improvement:
Includes all handy persons or contractors, drywall installation, flooring, painting, etc.

Real Estate, Rental or Leasing:
Includes real estate agents, appraisers, all classes of rental of property and equipment, automotive, electronics, apparel, etc.

There is also another that is a Maybe:

Business, Marketing, Sales or Consultants:
Includes marketing research legal services blogging analytics independent consulting (avon, airborne, etc.)

2

Did you use an Accountant to set-up your business?
This (First) years Tax Filing is extremely important going forward with your business.
There are multiple (correct) Codes that you may use, dependant on how your business is setup.
Use a Tax Specialist or your Accountant!
Mistakes can cost you not only now, but also in the long run!

Samples:

https://www.irs.gov/forms-pubs/update-to-principal-business-activity-code-2022-instructions-for-schedule-c-form-1040#:~:text=As%20of%20January%2025%2C%202023,Business%20filers%20must%20use%20999000.
.
2024-01-23_124135

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