Finding and entering the proper industry code into your TurboTax return is an important step in maximizing deductions, and items available for deduction. It is also important to remain consistent in your industry coding from year to year, (unless your business changes drastically). To locate the industry code that most applies to your line of work, use the following process:
How do I find my industry code?
- Visit the website for the North American Industry Classification System (NAICS) .
- Select the code that most closely represents the type of work that you do. (The page will then refresh with a new set of codes)
- Continue selecting codes to narrow down your specific area of expertise, until you reach a page containing 6-digit codes.
- Choose the code that most closely represents the work that you do, and use that as your industry code.
- If you have income from self-employment or if you own a small business, you will also need to enter a six-digit industry code into your tax return.
- The CRA’s NETFILE service will reject your tax return if you use an incorrect or outdated code.
- Some sectors, subsectors, industry groups, and industry categories include an item that belongs with “Other.” You can choose that code if you are unable to find a code that is directly relevant to your scenario.