No, that is not correct. A company should issue independent contractors earning more than $600. Uber generally does issue them along with a 1099-K.
However, even if you do not get one you will still need to file a return if you earned more than $400 in self-employment income. Since you are self-employed, you should be tracking your income and expenses and can easily file your return using the information you have. TurboTax has added a great feature this year for Uber and Lyft drivers.
To enter your Uber income
- Click on Federal
- Income & Expenses
- Scroll Down to Self-Employment and click
- Click Start next to Income and Expenses
- Answer YES to “Did you have any self-employment income or expenses”
- When you Enter Uber or Lyft when it asks you to “Tell us the type of self-employment work you do” TurboTax will customize your interview and will make it easy to enter all of your information.
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