TaxGuyBill
Level 15
07-25-2020
11:34 AM
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@abctax55 wrote:AND ... 611610 exists in the drop down menu for Lacerte.
I think Lacerte is wrong.
The instructions don't say to enter a NAICS code. It says to enter the "Principal Business Activity Code" (which is based on NAICS) and to enter the code "from the list below".
So you need to use a number that is from the list in the Instructions, not from the NAICS website. And 611610 is not on that list.
https://www.irs.gov/pub/irs-pdf/i1120s.pdf#page=47
EDIT: What number shows up on the tax form? It is possible that Lacerte is set up to enter a NAICS code and then translates it to the proper "Principal Business Activity Code" from the instructions.