Which Business Code # should I use?

Janet K. Slack on

Hi,

This my first year using Bivio for taxes. I always used to
use Code #525990, but Bivio is putting in Code #523910.
Which one is correct? Will it matter if I change from what
I've been using previously for the club?

Thanks!
Janet

Rip West on

Hi Janet,

No, it really doesn't matter.

Rip West
Saint Paul, MN

iras1 on

523910 is correct as that is the precise code for investment clubs. 525990 is catchall "other" code for certain financial entities. The NAICS code isn't really important. It just allows the IRS to compile composite statistics about the business performance of different types of tax filing entities.

Ira Smilovitz

In a message dated 02/08/09 11:17:55 Eastern Standard Time, jslack2@bivio.com writes:

This my first year using Bivio for taxes. I always used to
use Code #525990, but Bivio is putting in Code #523910.
Which one is correct? Will it matter if I change from what
I've been using previously for the club?

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