New to Lyft

Forum|Forum|1 year ago
February 25, 2025
1 reply
27 views

Hello, I am new to Lyft as of December 2024. I made less than $600 for the calendar year, do I still need to report this income?

Ask the Experts - Lyft - Feb 2025

Best answer by RobertB4444

Expert Reviewed

You are legally required to report all income that you earn in the year.

Lyft has a report for you that shows how many miles you drove and how much you paid in fees to Lyft so that you can deduct those amounts from the income that you earned. That way you aren't taxed on anything that you didn't get to keep in your bank account.

@chasereid

RobertB4444Answer

Level 15

Expert Reviewed

You are legally required to report all income that you earn in the year.

@chasereid

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chasereidAuthor

Level 2

I haven't received any tax documents to report the little amount of income that I received, and when I try to access this information on the Lyft platform, I receive these messages:

"Form 1099-K

This tax document wasn’t issued because you earned less than $5,000 in ride payments during the 2024 tax year."

and:

"Form 1099-NEC

This tax document wasn’t issued because you earned less than $600 in non-ride earnings during the 2024 tax year."

DaveF1006

Level 15

You should be able to find out how much you earned on the Lyft website and report it. ‌Once you do, here is how to report your income.

Open or continue your return.
Navigate to the self-employed income section:
- TurboTax Online/Mobile: Go to self-employed income.
- TurboTax Desktop: Search for self employed income (use this exact phrase, don't add a hyphen) and select the Jump to link.
Answer Yes on the Did you have any self-employment income or expenses? screen.
Answer the questions on the screens that until you arrive at Let's enter the income for your work.
After you enter the income, you can enter the expenses for your work, including your vehicle expenses during the year.

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