If you are an independent contractor that drives for Uber, they typically sent a 1099-K, and sometimes an additional 1099-MISC.
If you are using the online version of TurboTax, Self-Employed would enable you to enter self-employment income and expenses and maximize deductions geared toward self-employment. If you qualify, you may also be able to use the online Freedom edition of TurboTax that includes Schedule C. To qualify, you must have an AGI of 33,000 or less, be on active duty with the military and have an AGI of 64,000 or less, or qualify for the Earned Income Credit. To use the freedom version of TurboTax, go to the website below:
http://turbotax.intuit.com/taxfreedom/.
The equivalent in desktop software is TurboTax Home and Business. Although all desktop versions include all forms and schedules, Home and Business was designed for self-employment and entering expenses, so it will be the most straightforward software to complete your tax return.
To enter your 1099-K from Uber, follow the steps in the article below:
After entering your 1099-K, you will have the ability to deduct your expenses. The FAQ article below is very helpful explaining the Uber 1099-K and why it is different than what you were paid by Uber.
Also to learn more information and tax tips about driving, see the article below:
If you want to enter your business expenses, follow the steps below:
- Sign into your TurboTax account and click Continue where I left off
- Choose Federal Taxes
- Click on Income and Expenses.
- Scroll down and select Show More in the Self-Employment section
- In this section labeled Line of Work find and Click on Edit next to the business you want to work.
- Near the bottom of the page, click on Add Expenses for this Work.
To find out more about qualified business expenses, click the link below.
