Uber drivers receive a From 1099-Misc and/or Form 1099-K. The income from the Form 1099-K is not entered in a document screen. Instead it is reported on the form where you would report all income for this activity, on a Schedule C for self employment. This is the business schedule for a sole proprietor. (Likewise you can simply include the total from the Form 1099-MISC, if applicable, without entering the actual document.)
You don't need a Federal ID and the business name and address are your name and address unless you created a fictitious name or have a separate business address for this business.
Your car can be used as a deduction since it is used to produce the income. To determine the business use percentage you will need the personal miles and the business miles. Divide the business miles by the total miles to determine the business use percentage. You cannot deduct the monthly payments on the car. However you can deduct the business percentage of the interest paid in addition to the standard mileage rate because you are self employed.
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Note: To use the standard mileage rate for a car you own, you must choose to use it in the first year the car is available for use in your business. Then, in later years, you can choose to use the standard mileage rate or actual expenses.
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Click here for information on the standard mileage rate or actual expense method. The standard mileage rate is the easiest method and for 2016 the rate was $.54 per mile. (57.5 cents for 2015)
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Click here for TurboTax blog on Business Use of Vehicle.
- Be sure you don't duplicate expenses since the Uber statement in box 1 may be reduced by the expenses they show on your statement.
- Quickbooks Uber-1099 Tips
To enter this activity in TurboTax Self Employed (you will upgrade automatically if you have expenses):
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You can go directly to the area to review your information by following these steps.
TurboTax online version:
1. Sign into your account and select your current return.
2. Select My Account on the top right and then select Tools
3. Select Topic Search (see attached image)
4. Search for business and select Go
5. Start business entry by following the screens.
TurboTax desktop version:
1. Search box in the upper right
2. Search for business, schedule c
3. Jump to business. schedule c
4. Continue to Start or Edit your business
5. Follow the screens to enter your information.
