Yes, you need to file Schedule C for Uber and Lyft. You do not need a 1099 to enter income from self-employment. You will simply need to do the following:
When you get to the end you will click Add More Self-Employed Income to enter Lyft Income.
Yes, you need to file Schedule C for Uber and Lyft. You do not need a 1099 to enter income from self-employment. You will simply need to do the following:
When you get to the end you will click Add More Self-Employed Income to enter Lyft Income.
Yes that is self employment income and goes on schedule C.
Tax Tips for Uber, Lyft, Sidecar and other Car Sharing Drivers FAQ
https://turbotax.intuit.com/tax-tools/tax-tips/Self-Employment-Taxes/Tax-Tips-for-Uber--Lyft--Sidecar-and-other-Car-Sharing-Drivers/INF28820.html
What do I need from Uber
https://ttlc.intuit.com/questions/3636642-what-do-i-need-from-uber-to-file-my-taxes
How to get the Uber Discount
https://ttlc.intuit.com/questions/4514914-how-can-i-apply-my-uber-discount-to-my-turbotax-account
How to import from Uber
https://ttlc.intuit.com/questions/3776955-how-do-i-import-my-income-information-from-uber
And https://ttlc.intuit.com/questions/3776831-how-does-importing-from-uber-work
Where to enter Uber & Lyft Income
https://ttlc.intuit.com/questions/3175807-where-do-i-enter-my-lyft-uber-income
How to enter expenses from the Uber Summary
https://ttlc.intuit.com/questions/3636641-how-do-i-enter-my-expenses-from-my-uber-tax-summary-in-turbotax-online
How to get the Lyft discount
https://ttlc.intuit.com/questions/4237789-why-isn-t-my-lyft-discount-being-applied-to-my-turbotax-account
You will need to file a schedule C in your personal tax return for self employment income. You will need to use the Self Employed Online version to fill out schedule C.
Here is some reading material……
IRS information on Self Employment….
http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Self-Employed-Individuals-Tax-Center
Pulication 334, Tax Guide for Small Business
http://www.irs.gov/pub/irs-pdf/p334.pdf
Publication 535 Business Expenses
http://www.irs.gov/pub/irs-pdf/p535.pdf
Self Employment tax (Scheduled SE) is generated if a person has $400 or more of net profit from self-employment on Schedule C. You pay 15.3% for SE tax on 92.35% of your Net Profit greater than $400. The 15.3% self employed SE Tax is to pay both the employer part and employee part of Social Security and Medicare. So you get social security credit for it when you retire. The SE tax is in addition to your regular income tax on the net profit.
You can enter Cash Income into Online Deluxe or Premier but if you have any expenses you will have to upgrade to the Self Employed version.
Hi,
I earned income driving part time for Lyft in 2019 and earned under 10k. I did not file quarterly taxes and when looking for "Other Income" to Lyft earnings do not see that option for my Home and Business Self Emplyed edition of TurboTax that I purchased at a retailer, not the Online edition.
Based on steps outlined above I am not seeing an option to add additional income, for personal or business tabs.
Did I miss a step when starting the return or is there another place to area where I would add additional income?
Thanks!
Tony