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mikefranco2017
New Member

Election to amortize startup costs

WHAT EXPENDITURE AMOUNT AMOUNT I NEED TO REPORT AS A UBER DRIVER?
1 Best answer

Accepted Solutions
JaimeG
New Member

Election to amortize startup costs

This is not a set Dollar Amount. You Start Expenses is money you spent in order to start operating, these can be items such as:

  • Inspections costs to your vehicle prior (or contingent) to  joining Uber
  • Business Licenses (Local, State, Etc.) Many cities require a permit for services such as Uber or Lyft
  • If you leased a vehicle for Uber, any fees charged by the Leasing agency, linked with the vehicle lease.
  • Any fees charged by Uber before you began to operate

For a quick read and some tips of Start-up Business Expenses please click on the link below:

https://turbotax.intuit.com/tax-tools/tax-tips/Small-Business-Taxes/Startup-Business-Tax-Tips/INF277...

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1 Reply
JaimeG
New Member

Election to amortize startup costs

This is not a set Dollar Amount. You Start Expenses is money you spent in order to start operating, these can be items such as:

  • Inspections costs to your vehicle prior (or contingent) to  joining Uber
  • Business Licenses (Local, State, Etc.) Many cities require a permit for services such as Uber or Lyft
  • If you leased a vehicle for Uber, any fees charged by the Leasing agency, linked with the vehicle lease.
  • Any fees charged by Uber before you began to operate

For a quick read and some tips of Start-up Business Expenses please click on the link below:

https://turbotax.intuit.com/tax-tools/tax-tips/Small-Business-Taxes/Startup-Business-Tax-Tips/INF277...

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