What type of method would I use if a Uber / Lyft handled actions.. Once they took their fee, payment was made to me once a week. Not sure if this is the Cash Method?

carinkocher · ‎June 3, 2019

PatriciaV · ‎June 3, 2019

Yes, in most cases you are a cash-basis taxpayer, and you use the same method for your Uber/Lyft business. If you used accrual method, you would know and recognize this.

Report the gross income that was paid to you. The fees that were deducted should be reported as a business expense.

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View solution in original post

PatriciaV · ‎June 3, 2019

Yes, in most cases you are a cash-basis taxpayer, and you use the same method for your Uber/Lyft business. If you used accrual method, you would know and recognize this.

Report the gross income that was paid to you. The fees that were deducted should be reported as a business expense.

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

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What type of method would I use if a Uber / Lyft handled actions.. Once they took their fee, payment was made to me once a week. Not sure if this is the Cash Method?