Uber driver No forms sent Gross $20426.78 Exp/fees $7374.01 Net $13052.77

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 or any of the Desktop programs.

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.

topic Uber driver No forms sent Gross $20426.78 Exp/fees $7374.01 Net $13052.77 in Get your taxes done using TurboTax

Uber driver No forms sent Gross $20426.78 Exp/fees $7374.01 Net $13052.77

Re: Uber driver No forms sent Gross $20426.78 Exp/fees $7374.01 Net $13052.77

Re: Uber driver No forms sent Gross $20426.78 Exp/fees $7374.01 Net $13052.77