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Can I enter prior year income loss as an Uber driver?

In 2020 I lost $8642.00 What form do I use to report that on this year's income?
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3 Replies
PattiF
Expert Alumni

Can I enter prior year income loss as an Uber driver?

The loss from 2020 needs to be reported on a 2020 tax return. You will need to amend the 2020 tax return to include the loss as a Uber driver. Here is a TurboTax article that has information on how to amend it.

 

 

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Can I enter prior year income loss as an Uber driver?

did you timely file your 2020 return.  if you did you need to use schedule A of form 1045 to see if you have a net operating loss. if you had a net operating loss unless you made an election to forgo the carryback period, you must carry it back to 2015 and then any left forward to 2016 -2017-2018-2019-2021.   Turbotax no longer supports 2015, so you may need to find a pro.

 

https://www.irs.gov/pub/irs-pdf/f1045.pdf 

 

Can I enter prior year income loss as an Uber driver?

Not on the 2021 return.  You would have to file a restated return for 2020, when the loss was incurred.  If you never filed, then you would need to file the return as a new return for 2020.

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