Unfortunately, yes. All self-employment income must be reported. Although you may or may not owe any federal income tax, you may owe Social Security and Medicare tax on this amount. The IRS also received a copy of your 1099-K and are expecting you to report it.
You can deduct your business expenses to offset your business income. Click the link below to find out more about the deductions available to ride-sharing drivers.
https://turbotax.intuit.com/tax-tips/self-employment-taxes/tax-tips-for-uber-drivers-understanding-y...
