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I work for Uber. Can I deduct the Uber Service Fee? Uber pays me 80% and they keep 20% which is the Uber Fee.

 
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RyanH2
New Member

I work for Uber. Can I deduct the Uber Service Fee? Uber pays me 80% and they keep 20% which is the Uber Fee.

[Edited 02/15/17]

To enter Uber Income and Expenses into TurboTax:

You will need to fill out Schedule C to report your 1099-K as business income. If you made under $400, you don't have to pay self-employment tax, but you still have to report it on Schedule C as that is where the IRS will be looking for the income. If you choose to file it as miscellaneous income you may receive a letter from the IRS.

If you are an Uber driver and received a 1099-K, then you would enter your pay as freelance business income.
You will need TurboTax Self-Employed to enter Schedule C(IRS form for freelance business) to complete your return.

To Enter Your 1099-K Into TurboTax Self-Employed:

1. Select "Business" at the top of the screen

2. Choose "Continue", then "I'll choose what I work on"

3. Select "Start" next to "Business Income and Expenses"

4. Select "Start/Edit" next to your business name(Or enter your business which would just be your name)

5. Select "Visit All" next to Business Income

6. Select "Start" next to "General Income"

7. Proceed to answer the questions and enter the appropriate items

Example: Richard is an Uber driver and gets a 1099-K that shows $15,000 in total fares. After Uber's commissions and fees, the amount he actually received was $10,000. He enters $15,000 as income and $5,000 as commissions under the Business Income and Expenses topic. If he also gets a 1099-MISC, he would enter it as additional income.

Business Code-Taxi & limousine service (485300)

For additional information and guidance select this link: Tax Tips for Uber and other drivers





View solution in original post

1 Reply
RyanH2
New Member

I work for Uber. Can I deduct the Uber Service Fee? Uber pays me 80% and they keep 20% which is the Uber Fee.

[Edited 02/15/17]

To enter Uber Income and Expenses into TurboTax:

You will need to fill out Schedule C to report your 1099-K as business income. If you made under $400, you don't have to pay self-employment tax, but you still have to report it on Schedule C as that is where the IRS will be looking for the income. If you choose to file it as miscellaneous income you may receive a letter from the IRS.

If you are an Uber driver and received a 1099-K, then you would enter your pay as freelance business income.
You will need TurboTax Self-Employed to enter Schedule C(IRS form for freelance business) to complete your return.

To Enter Your 1099-K Into TurboTax Self-Employed:

1. Select "Business" at the top of the screen

2. Choose "Continue", then "I'll choose what I work on"

3. Select "Start" next to "Business Income and Expenses"

4. Select "Start/Edit" next to your business name(Or enter your business which would just be your name)

5. Select "Visit All" next to Business Income

6. Select "Start" next to "General Income"

7. Proceed to answer the questions and enter the appropriate items

Example: Richard is an Uber driver and gets a 1099-K that shows $15,000 in total fares. After Uber's commissions and fees, the amount he actually received was $10,000. He enters $15,000 as income and $5,000 as commissions under the Business Income and Expenses topic. If he also gets a 1099-MISC, he would enter it as additional income.

Business Code-Taxi & limousine service (485300)

For additional information and guidance select this link: Tax Tips for Uber and other drivers





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