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outof2une
New Member

After entering all expense and income for my work with Uber it is a large negative number. I just feel like that will be audited badly did I add way to many expenses?

 
1 Reply
PaulaM
Employee Tax Expert

After entering all expense and income for my work with Uber it is a large negative number. I just feel like that will be audited badly did I add way to many expenses?

Being self-employed does by itself, bring an increased audit risk. IRS agents know that self-employed people sometimes claim excessive deductions and don't report all of their income.

Understanding your risk is important in your decision to claim your expenses. If you wish to proceed, make certain that you have well documented records. The IRS can disallow any deductions that you can't support with:

  • Receipts
  • Mileage logs
  • Any other documentation

https://turbotax.intuit.com/tax-tips/self-employment-taxes/tax-tips-for-uber-lyft-sidecar-and-other-...

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