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apavlak12
New Member

I entered my 1099k as other income on regular tax return, is that ok?

I entered my uber 1099k as other income (line 25) in my regular tax filings. Is this ok?

1 Reply
Patrice
New Member

I entered my 1099k as other income on regular tax return, is that ok?

No, the IRS does not consider this ok.  Your Uber income should be entered on Line 12 of your 1040 (Business income or (loss) and should be reported on a Schedule C.  

When you drive for Uber, you are regarded as an independent contractor, not an employee. This means that at the end of the year, you will receive a 1099 form rather than the typical W-2 you may be used to getting.

According to the IRS, as an independent contractor, you are considered as a self-employed individual operating your own business. The IRS refers to this as conducting business as a sole proprietorship. Additionally, all driving services income you earn, whether through Uber or not, also fall under this same business.

In TurboTax, we don’t create a separate entry for your 1099-K info. That's because your 1099-K income should already be included in other income such as a 1099-MISC

However, if you don't have a 1099-MISC, report your 1099-K by following these steps before you enter any expenses:

·         Click on Federal Taxes on the top row of TurboTax Deluxe Online.

·         Click Wages & Income

·         Under All Income, click Show all income

·         Scroll to Self-Employment, click Start

·         Click Yes to Did you have any self-employment income or expenses?

·         Enter any income from sales or services that weren't reported on Forms 1099-MISC

On the next screen, it will ask if you had expenses. Say "Yes"

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