Congratulate Me

Kevin Kargel

Well-Known Member
  • Thread Starter Thread Starter
  • #4
I actually get an emotional boost driving Lyft. It gets me out interacting with people. I was just amused that with 1500+ rides my net was only $750.
 

Kevin Kargel

Well-Known Member
  • Thread Starter Thread Starter
  • #8
At least I don't have to worry about IRS invoking the 3 year no profit rule negating my expenses.
 

Ubergaldrivet

Active Member
According to my tax lady I made $750 with Lyft last year after mileage and deductibles. WooHoo!
I had a 313 loss. As an ex IRS agent make sure you are utilizing every expense that is ordinary and necessary for the Rideshare industry. For 2019, the Rideshare losses for folks will be epic. Is that bad? Nope, especially if you have active income to offset those losses against.
 

Juggalo9er

Well-Known Member
I had a 313 loss. As an ex IRS agent make sure you are utilizing every expense that is ordinary and necessary for the Rideshare industry. For 2019, the Rideshare losses for folks will be epic. Is that bad? Nope, especially if you have active income to offset those losses against.
That offset is one of the only reasons I drive
 
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