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dannyjobz
Returning Member

How to I file corporation taxes? I'm UBER driver. UBER payments directly go to my Corp. Bank Account.But UBER sent 1099K in my name(SSN).

My first year doing taxes for Corporation. I driver UBER for living. No other income. All my UBER payments go directly to my Corporation Bank Account. And all my UBER related expenses go from corp bank account. I realized that  UBER sent 1099K in my name and SSN. Now I'm wondering how to connect the gross income from 1099k(in my name with SSN) to my Corporation (with EIN). And how to be with business(UBER) related expenses? Should I list them under REPAIR/MAINTENANCE deductions on 1120? Should I pay myself salary or dividends?  

Most Importantly: Can any of TURBOTAX products guide with explaining each step? If so with product?

Thank you for the time taken to read and reply. 

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2 Replies
KaylaTR
New Member

How to I file corporation taxes? I'm UBER driver. UBER payments directly go to my Corp. Bank Account.But UBER sent 1099K in my name(SSN).

  • When you drive for Uber, you are regarded as an independent contractor, not an employee. This means that at the end of the year, you will receive a 1099 form rather than the typical W-2 you may be used to getting.
  • you are considered by the IRS as a self-employed individual operating your own business. The IRS refers to this as conducting business as a sole proprietorship.
  • Independent contractors report their income and expenses using the IRS form Schedule C. On this form, you calculate your net profit or self-employment income.
  • Because you are not technically employed by Uber, Uber does not withhold social security and medicare taxes or federal income taxes from your earnings like a traditional job where you get a W-2. Because of this, you are responsible for paying your income tax as well as your self- employment tax. Self-employment tax is the same as social security tax + medicare tax.





How to I file corporation taxes? I'm UBER driver. UBER payments directly go to my Corp. Bank Account.But UBER sent 1099K in my name(SSN).

The response does not address anything regarding the difference of filing as an individual (sole proprietor), with social security number verses as a legit business (S Corp or LLC.) filing with an FEIN. They are not one in the same. There is a big difference when it comes to deductions and other things. Please do more research beyond the answer provided here.
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