550607
You'll need to sign in or create an account to connect with an expert.
Hi. Uber has to issue you a 1099k to report income they paid you. You will need to file taxes on this. Follow these steps
It’s okay if the amount of your 1099-K is different than what was deposited in your bank. The amount on your 1099-K is the total amount that your customers paid. Before Uber pays you, they take out expenses like tolls, Safe Rides Fees, taxes and other fees. That is why the amount you got paid is different from the amount on your 1099-K.
You need to report the total amount of your 1099-K, but then you also get to enter your expenses on your tax return. You only pay taxes on your net income from Uber, which is the amount of income you had after your expenses were subtracted.
Example:
$16,500 Your 1099-K total – Enter this in your return
-$125 Tolls paid – Enter this as an expense in your return
-$250 Taxes and licenses – Enter this as an expense
__________________________________________________________________
$16,125 Net pay from Uber – You only pay taxes on this amount.
Examples of expenses you pay to Uber are:
Tolls, Safe Rides fees, split fare fees, Black Card Fund, sales tax, booking fees, city fees, airport fees, and other taxes
To see the amounts of your different driving expenses (the amounts Uber took out before they paid you):
Log in to Uber.com and select the Tax Information page at the top.
In the Tax Documents section, locate your Yearly Summary for 2016 and Download it.
After downloading, open your Yearly Summary and you can see the amount Uber took out from your pay for each expense category.
Hi. Uber has to issue you a 1099k to report income they paid you. You will need to file taxes on this. Follow these steps
It’s okay if the amount of your 1099-K is different than what was deposited in your bank. The amount on your 1099-K is the total amount that your customers paid. Before Uber pays you, they take out expenses like tolls, Safe Rides Fees, taxes and other fees. That is why the amount you got paid is different from the amount on your 1099-K.
You need to report the total amount of your 1099-K, but then you also get to enter your expenses on your tax return. You only pay taxes on your net income from Uber, which is the amount of income you had after your expenses were subtracted.
Example:
$16,500 Your 1099-K total – Enter this in your return
-$125 Tolls paid – Enter this as an expense in your return
-$250 Taxes and licenses – Enter this as an expense
__________________________________________________________________
$16,125 Net pay from Uber – You only pay taxes on this amount.
Examples of expenses you pay to Uber are:
Tolls, Safe Rides fees, split fare fees, Black Card Fund, sales tax, booking fees, city fees, airport fees, and other taxes
To see the amounts of your different driving expenses (the amounts Uber took out before they paid you):
Log in to Uber.com and select the Tax Information page at the top.
In the Tax Documents section, locate your Yearly Summary for 2016 and Download it.
After downloading, open your Yearly Summary and you can see the amount Uber took out from your pay for each expense category.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
rodiy2k21
Returning Member
anil
New Member
jmgretired
New Member
pchicke
Returning Member
RicN
Level 2