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June 9, 2020
Question

Uber tax summary

  • June 9, 2020
  • 1 reply
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I only received the tax summary, not the 1099-k or 11099-misc. I don't an option for self-employment. I did find it in business income but there they are asking for a business address and w-2s. 

1 reply

VolvoGirl
Employee
June 9, 2020

Where to enter Uber Income

https://ttlc.intuit.com/community/uber-or-lyft/help/where-do-i-enter-my-lyft-uber-income/00/26804

 

How to enter expenses from the Uber Summary

https://ttlc.intuit.com/community/entering-importing/help/how-do-i-enter-my-expenses-from-my-uber-tax-summary-in-turbotax-online/00/27106

 

You will need to file a schedule C in your personal tax return for self employment income.  You will need to use the Self Employed Online version to fill out schedule C or any of the Desktop programs.

 

Here is some reading material……

 

IRS information on Self Employment….

http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Self-Employed-Individuals-Tax-Center

 

Pulication 334, Tax Guide for Small Business

http://www.irs.gov/pub/irs-pdf/p334.pdf

 

Publication 535 Business Expenses

http://www.irs.gov/pub/irs-pdf/p535.pdf

 

Self Employment tax (Scheduled SE) is generated if a person has $400 or more of net profit from self-employment on Schedule C.  You pay 15.3% for SE tax on 92.35% of your Net Profit greater than $400.  The 15.3% self employed SE Tax is to pay both the employer part and employee part of Social Security and Medicare.  So you get social security credit for it when you retire.  The SE tax is in addition to your regular income tax on the net profit.