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Newbie Tax Question

Discussion in 'Taxes' started by Brianf27, Feb 16, 2017 at 10:27 AM.

  1. Brianf27

    Brianf27 New Member

    Location:
    Worcester, Ma
    I started about a month ago part-time. I have a full time. I do not itemize on my 1040... as i do not own a house. Will I be able to deduct mileage and various expenses separately?
     
  2. NoStopping

    NoStopping Member

    Location:
    San Francisco
    Driving:
    UberX
    you would have to be more specific as to what various covers.
     
  3. Brianf27

    Brianf27 New Member

    Location:
    Worcester, Ma
    Ok. Mileage and maybe cleaning and some maintenance fees. Just wondering since I use the standard deduction for my income taxes, is this lumped in, different... With the gas, mileage on my vehicle and time this is barely worth it now. Personally using my own vehicle and gas to make a little more than minimum wage doesn't seem like they should be taxing me at all. I pay my share with my regular job. Of course that's a silly pipedream.
     
  4. NoStopping

    NoStopping Member

    Location:
    San Francisco
    Driving:
    UberX
    if you take the mileage deduction you cant take maintenance, gas, insurance, and other similar car related things. I think you can still deduct parking meters.
     
  5. Brianf27

    Brianf27 New Member

    Location:
    Worcester, Ma
    Thanks, is that separate from deductions on your 1040. I am guessing it is a separate entity being a schedule. Guessing at this point...
     

  6. cheerose

    cheerose Active Member

    You'll need to fill out Schedule C -- that will have a place to put your expenses. And yes, this is a separate issue that your itemized deductions (Schedule A)

    Assuming that you own your vehicle (versus leasing), if this is the first year that you are using your vehicle for rideshare purposes, I would suggest using the standard mileage rate for that year. If you use actual expenses, you will not be able to use the standard mileage rate going forward.

    If this is a leased vehicle, then you either must use the standard mileage rate during the entire lease period or actual expenses; no switching back and forth.

    As NoStoppingNoStopping mentioned, you can add parking fees & tolls to the standard mileage rate calculation.
     
    UberTaxPro likes this.
  7. Brianf27

    Brianf27 New Member

    Location:
    Worcester, Ma
    Thank you all. I was worried I would be excluded from using deductions because I use the standard deduction from my 'Normal' job. I don't think ridesharing should be taxed at all on the driver's end. I'll run this by Trump next time he needs a ride in my Hyundai.
     
    UberTaxPro and MysteriousJL like this.

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