# My Lyft 1099K is $20,000+ off my actual deposits



## Cletuss (Feb 16, 2020)

Looking over my lyft 2019 1099k form line 1a. It’s says $41,000+ But according to my records & deposits I only deposited & made around $21,000 

on the 1099K form it says month of December 3,565.00 but in my lyft payout history inside the lyft app I only deposited & made $2,421.00 that’s a huuuge difference.

my question is ... why is my 1099k so off.. like $ 20,000 off... what am I missing here?

im panicking since lyft gav me basically an automated response & told me it’s correct..so I’m not sure what to do.


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## TemptingFate (May 2, 2019)

Probably reflects the total fares before Lyft's take.


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## Buck-a-mile (Nov 2, 2019)

Check the taxes forum here.

It's gross earnings.


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## Cletuss (Feb 16, 2020)

Buck-a-mile said:


> Check the taxes forum here.
> 
> It's gross earnings.


Gross earnings ..u mean what lyft made as well?


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## Buck-a-mile (Nov 2, 2019)

Cletuss said:


> Gross earnings ..u mean what lyft made as well?


Yep, you file a separate form.
The tax forum would have better information.


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## Cletuss (Feb 16, 2020)

At top of this page it says I’m in the tax forum.. but I’m a newbie so.


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## JaxUberLyft (Jan 9, 2019)

In your schedule C you show U/L take as biz expenses


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## Cletuss (Feb 16, 2020)

So I don’t get a 1099K of what I made.. the 1099K they sent me in my name reflects what me & lyft made? Now I have to go back through my bank statements & see what I actually made..Wow really.


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## Buck-a-mile (Nov 2, 2019)

Cletuss said:


> At top of this page it says I'm in the tax forum.. but I'm a newbie so.


All new posts appear in general discussion when you post. All users see it. Just so you know.


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## Cletuss (Feb 16, 2020)

Please follow..So I also have an eBay biz, I get the exact same 1099k form from PayPal.. PayPal says line 1a is the Amount I made / grossed period. Nice & simple.. figure out & file my taxes according to what my 1099k says I made.

& my understanding.. even tho it’s the exact same 1099K form.. lyfts 1099K is totally different? line 1a is actually what I made & what lyft made? & I have to go inside my bank account to see what I really made?

sorry to beat a dead horse I’m just trying to understand. Thank you to everyone for thr replies.


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## [email protected] (Feb 10, 2020)

Cletuss said:


> Please follow..So I also have an eBay biz, I get the exact same 1099k form from PayPal.. PayPal says line 1a is the Amount I made / grossed period. Nice & simple.. figure out & file my taxes according to what my 1099k says I made.
> 
> & my understanding.. even tho it's the exact same 1099K form.. lyfts 1099K is totally different? line 1a is actually what I made & what lyft made? & I have to go inside my bank account to see what I really made?
> 
> sorry to beat a dead horse I'm just trying to understand. Thank you to everyone for thr replies.


I think the argument is that you made 100% of what they collected from riders - that's your gross take home and they just took their cut before paying you. You'll need to deduct your payments to Lyft (what they took before paying you) as expenses against the total amount. Uber provided a high level summary of gross pay, expenses, and net payments.


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## Cletuss (Feb 16, 2020)

[email protected] said:


> I think the argument is that you made 100% of what they collected from riders - that's your gross take home and they just took their cut before paying you. You'll need to deduct your payments to Lyft (what they took before paying you) as expenses against the total amount. Uber provided a high level summary of gross pay, expenses, and net payments.


I hear you & understand but that's just it & how screwy thr system seems to be. They sent a 1099K in my name to me & to the IRS that says I personally grossed 41,000+ When I actually only deposited / made / grossed 21,000+ ... just didn't make sence to me since yes lyft May have received 41k .. but never did that amount go through my hands or accounts.


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## [email protected] (Feb 10, 2020)

Cletuss said:


> I hear you & understand but that's just it & how screwy thr system seems to be. They sent a 1099K in my name to me & to the IRS that says I personally grossed 41,000+ When I actually only deposited / made / grossed 21,000+ ... just didn't make sence to me since yes lyft May have received 41k .. but never did that amount go through my hands or accounts.


You should end up in the same position at least? &#128513;

I want to say that the 1099K form is a new this year. Not sure if that makes a difference. I don't gross enough with Uber for them to send me a 1099 since I do this on the side.


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## Illini (Mar 14, 2019)

Cletuss said:


> I hear you & understand but that's just it & how screwy thr system seems to be. They sent a 1099K in my name to me & to the IRS that says I personally grossed 41,000+ When I actually only deposited / made / grossed 21,000+ ... just didn't make sence to me since yes lyft May have received 41k .. but never did that amount go through my hands or accounts.


Your Lyft rides are between you and the riders. Their entire fares were paid to you. Lyft's take from those fares was a business expense for you.


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