1099 reflects gross from uber not net?

kideyse

Active Member
The figures on my 1099 reflect the gross income from Uber before the Uber fees are taken out. That is not what is deposited to my bank account. Why??? How do we handle this? We shouldn't be taxed on what we didn't make.
 

therides

Active Member
Box one is your gross receipts from Uber this goes on your Schedule C line 1
you should have expenses to offset at least some of the income, aka cost of doing business

most importantly keep good records of your expenses, I usually take pictures of my receipts for supplies, gas, maintenance, car washes, etc.
Also keep a log of your business miles for the year. IRS audit can be costly if you just eyeballing the amounts.
 
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UberTaxPro

Well-Known Member
Sponsor
The figures on my 1099 reflect the gross income from Uber before the Uber fees are taken out. That is not what is deposited to my bank account. Why??? How do we handle this? We shouldn't be taxed on what we didn't make.
you'll be able to deduct the SRF and the commissions. Look at your 1099K summary, it should break everything down for you.
 

kideyse

Active Member
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Are the expenses deducted dollar for dollar or is it a percentage as in schedule A? If not full dollar, I will put the actual amount that was deposited into my bank account and just include the bank statements with the return.
 

therides

Active Member
expenses for things like SRF , uber commissions and tolls are dollar for dollar, mileage ,gas , supplies, maintenance is percentage of business use if you used actual mileage deduction. For standard mileage deduction, you cannot deduct gas maintenance or depreciation as it is included in the calculation of per mile reimbursement
 

StarzykCPA

Active Member
Are the expenses deducted dollar for dollar or is it a percentage as in schedule A? If not full dollar, I will put the actual amount that was deposited into my bank account and just include the bank statements with the return.
Yes, it's dollar for dollar. You need to file a Schedule C to deduct them. Do not include the net amount, since they IRS will be looking for the gross to tie to the 1099 they received (sadly, they'll ignore the bank statements).

expenses for things like SRF , uber commissions and tolls are dollar for dollar, mileage ,gas , supplies, maintenance is percentage of business use if you used actual mileage deduction. For standard mileage deduction, you cannot deduct gas maintenance or depreciation as it is included in the calculation of per mile reimbursement
Welcome!
 
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