I need to change my business code. I do not have the hyperlink to click to edit the business code on my schedule c business review page. should i contact TT support?
A
Anonymous
February 2, 2020
Question
I need to change my business code. I do not have the hyperlink to click to edit the business code on my schedule c business review page. should i contact TT support?
The business code is not really an important piece of information that necessarily needs to be accurate. It is only used by the IRS for statistical purposes.
That being said, TurboTax will help determine what business code you should use based on the information that you have entered in the Work Description under General Info for your business. As you edit and change the Work Description, the business code will change as well.
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Not being able to change this code is affecting other areas and I can't seem to get in touch with anyone. I never thought it would be an issue until this year. The correct isn't generating on the form, that's a problem.
You can edit your business code by following these steps:
TurboTax CD/Download
In TurboTax Home & Business:
Click on the Business tab > Continue > I'll choose what to work on
On the Let’s gather your business info screen, in the Business Income and Expensessection, click the Start/Update button.
If you have already started adding information about your business, you will see the Here's the business info we have so far screen. Click on the Edit box next to the business.
You will now be on the Your [business description] Business screen. In the Business Profile section, click on the Start/Update box.
On the Let's confirm your business info screen click on the Edit box next to Business Code.
On the next screen, Let's look up your business code, enter your business code. If you don't know it, click on the Lookup Business Codes box to search for the correct code. Click on the correct code and it will populate the box.
Click Continue when done.
TurboTax Online
TurboTax will automatically enter the business code for your business based on your work description. To change this please follow these steps:
On the screen, Your income and expenses, click on the Start/Revisit box next to Self-Employment.
If you have already started entering information about your business, you will see a screen, Your 2020 self-employed work summary. Click the Edit box next to your business name.
At the top of the Here's your XXX info screen, click the Edit box next to General Info.
On the next screen, in the General Info section, click Edit below Work Description.
On the next screen, enter the type of work -- be as specific as possible. Click Continue. TurboTax will enter the new business code.
Thank you for your help. I reached out to a representative and we couldn’t resolve the problem. We tried the same steps not too long ago. I entered all of the keywords I can think of.