Seamus
Well-Known Member
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^Terrible advice^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
1- You are writing down miles with no odometer reading will get your miles disallowed.
2- You did this for 20 years and the IRS had no problem? Bogus! You were probably getting a mileage reimbursement from an employer which has no bearing to the IRS. We are talking about schedule C deductions which are totally different and just your total miles without odometer readings won't fly.
3- You must be new to rideshare and don't understand the 1099 issuance that is relevant. If you get bonus or incentive money over $600 you will get a 1099 misc. If you get rideshare money from driving pax you get a 1099k if over $20,000, less than that you get no 1099K.
The only thing you said that makes any sense is "ask a professional accountant." I bet you have never filed a schedule C with rideshare revenue included yet.
1- You are writing down miles with no odometer reading will get your miles disallowed.
2- You did this for 20 years and the IRS had no problem? Bogus! You were probably getting a mileage reimbursement from an employer which has no bearing to the IRS. We are talking about schedule C deductions which are totally different and just your total miles without odometer readings won't fly.
3- You must be new to rideshare and don't understand the 1099 issuance that is relevant. If you get bonus or incentive money over $600 you will get a 1099 misc. If you get rideshare money from driving pax you get a 1099k if over $20,000, less than that you get no 1099K.
The only thing you said that makes any sense is "ask a professional accountant." I bet you have never filed a schedule C with rideshare revenue included yet.