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June 6, 2019
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Me and my husband both do postmates how do we put that income in our file if they don’t send w2

  • June 6, 2019
  • 1 reply
  • 11 views
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Best answer by TomYoung

It looks to me like Postmates is one of those outfits where both of you will be considered "independent contractors" (self-employed) and if either of you earned more than $600 you should receive a 1099-MISC with the income in Box 7.  Irrespective of whether you receive a 1099-MISC or not you are obligated to report your income on your income tax return.  If you don't get 099-MISCs you calculate your revenue based on your own records.

You report your income on Schedule C, (one for each of you), and on Schedule C you'll deduct any associated costs connected with earning that income.  Your taxable income from self-employment will be taxed at ordinary income tax rates.  You will also be assessed a Self-Employment tax (Social Security and Medicare) that calculated at a roughly 15% tax rate.  TurboTax will do all the calculations for you based upon your Schedule C input.

In order to complete a full Schedule C with revenue and expenses using an online product you will need to upgrade to TurboTax Self-Employed.

Tom Young

1 reply

TomYoungAlumni - ChampAnswer
Alumni - Champ
June 6, 2019

It looks to me like Postmates is one of those outfits where both of you will be considered "independent contractors" (self-employed) and if either of you earned more than $600 you should receive a 1099-MISC with the income in Box 7.  Irrespective of whether you receive a 1099-MISC or not you are obligated to report your income on your income tax return.  If you don't get 099-MISCs you calculate your revenue based on your own records.

You report your income on Schedule C, (one for each of you), and on Schedule C you'll deduct any associated costs connected with earning that income.  Your taxable income from self-employment will be taxed at ordinary income tax rates.  You will also be assessed a Self-Employment tax (Social Security and Medicare) that calculated at a roughly 15% tax rate.  TurboTax will do all the calculations for you based upon your Schedule C input.

In order to complete a full Schedule C with revenue and expenses using an online product you will need to upgrade to TurboTax Self-Employed.

Tom Young