Which option should I select for rideshare driving self-employed income? (Please see details).

Forum|Forum|7 years ago
June 1, 2019
15 replies
1 view

Hi all,

- I earned income that didn't qualify for a 1099-Misc (under $600) or a 1099-K (less than $20K in gross trip earnings).

- I did not earn income via cash or check.

-And didn't receive income that qualifies as "uncommon income".

I'm stumped here, can anyone advise which option to choose?

Thanks in advance!

Alex

TurboTax Self Employed Android

Best answer by KrisD15

Receiving funds via Direct Deposit is considered the same as receiving cash.

KrisD15

Level 15

How did you receive the income?

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

A-Two-OAuthor

Level 2

Direct deposit

KrisD15

Level 15

That is considered the same as cash

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

VolvoGirl

Level 15

That is considered Cash.

A-Two-OAuthor

Level 2

Oh! Got it. Thanks so much KrisD & VolvoGirl

KrisD15

Level 15

Thank you for using TurboTax

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

A-Two-OAuthor

Level 2

On the following screen, for "Type of income", should I put "Direct Deposit" or "Cash" (or doesn't matter)?

KrisD15

Level 15

Well, if the direct deposit came from Lift or Uber, I would classify it as "checks", if it was transferred by a phone app by a rider, I would use "cash", but the end result would be the same. If it were a large amount, cash could raise eyebrows, but in your case, no worries.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

A-Two-OAuthor

Level 2

Hi Kris. Yes, it's for Uber & Lyft. And I should enter all gross earnings from both rideshare platforms as a single amount and proceed? Or one row for Uber and add another for Lyft?

KrisD15

Level 15

You are considered self-employed. It is just like a personal trainer. They don't split up the fees they charge each client, and neither should you. Just report what you made, regardless of who paid it. Since it is the same type of work, you can combine them. If you also pet-sit, that would be a second schedule C, but you would still report what all the dog owners paid you, not split it up, get it? Use one row. Splitting the entries could be useful in bookkeeping (like if you wanted a report showing who you made more driving for), but not needed for tax filing.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"