# How to do Uber or Lyft taxes using Turbo Tax



## UberPissed (Aug 13, 2014)

Lots of Tax questions, so I'm creating this post to walk you through how you would do this on TT.

Take the following hypothetical:
Driver has a 2008 Honda Prius. The car was purchased in 2014 (on 1.1.14) and put into service on 6.1.14. In 2015, the driver received a 1099-K for 20,000, and also received $200 in tips (LOL). 

Driver had the following expenses: $1,000 SRF, $3,800 commission, 18,000 total business miles, $25 for business cards; $250 for water; $85 for candy; and $990 for cell phone (figured at 75% of 110/m). 

Pull up the attached PDF for a walkthrough on how to do this on TT.

You're welcome.


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## LAuberX (Jun 3, 2014)

more like 25,000+ miles to hit $20,000 from Uber.... jus sayin LOTS of cities under .75 net per mile... and dead miles!


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## UberPissed (Aug 13, 2014)

I don't disagree - just showing how you would go through the software. I think a lot of people have figured out what is or isn't deductible (hopefully) and there was another post about asking how to enter it in TT.

Another 5,900 miles would bring the net profit to right around zero, in case anyone was wondering.


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## LAuberX (Jun 3, 2014)

Great write up, I've used TurboTax home and business for the last 4 years, it works great.

Doing Uber/Lyft in L.A. the last two years my dead to paid mile ratio was 1.8:1 in 2014, and 2.4:1 in 2015, so zero taxes.


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## whatasteal (Dec 5, 2015)

UberPissed said:


> Lots of Tax questions, so I'm creating this post to walk you through how you would do this on TT.
> 
> Pull up the attached PDF for a walkthrough on how to do this on TT.
> 
> You're welcome.


Thanks!


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## Rockwall (Oct 10, 2014)

You can also use Tax Act for way cheaper....


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## Moondance (Feb 1, 2016)

One of the best post for filling out taxes uet. Thank u.


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## effrontery (Feb 9, 2016)

UberPissed said:


> Lots of Tax questions, so I'm creating this post to walk you through how you would do this on TT.
> 
> Take the following hypothetical:
> Driver has a 2008 Honda Prius. The car was purchased in 2014 (on 1.1.14) and put into service on 6.1.14. In 2015, the driver received a 1099-K for 20,000, and also received $200 in tips (LOL).
> ...


Thanks for this. Just curious if you (or anyone) has specifically used TaxAct to do their taxes. (I can post this elsewhere, too, if it's more appropriate.) Trying to figure out where to put the expenses.


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## effrontery (Feb 9, 2016)

UberPissed said:


> Lots of Tax questions, so I'm creating this post to walk you through how you would do this on TT.
> 
> Take the following hypothetical:
> Driver has a 2008 Honda Prius. The car was purchased in 2014 (on 1.1.14) and put into service on 6.1.14. In 2015, the driver received a 1099-K for 20,000, and also received $200 in tips (LOL).
> ...


Confused--I switched to TurboTax, and when I chose the button for a 1099-K, it said something like "You don't need to enter numbers from this form specifically, they'll be included in your business expenses."

Sigh. What am I missing?


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## LAuberX (Jun 3, 2014)

effrontery said:


> Thanks for this. Just curious if you (or anyone) has specifically used TaxAct to do their taxes. (I can post this elsewhere, too, if it's more appropriate.) Trying to figure out where to put the expenses.


What version are you using of TurboTax?


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## effrontery (Feb 9, 2016)

LAuberX said:


> What version are you using of TurboTax?


I just figured out I was using Deluxe, not Home and Business. Thanks for the catch!


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## LAuberX (Jun 3, 2014)

effrontery said:


> I just figured out I was using Deluxe, not Home and Business. Thanks for the catch!


I used online home and business for 3 years, it worked great and keeps all your info in the cloud for next year.


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## StarzykCPA (Aug 6, 2015)

UberPissed said:


> Lots of Tax questions, so I'm creating this post to walk you through how you would do this on TT.
> 
> Take the following hypothetical:
> Driver has a 2008 Honda Prius. The car was purchased in 2014 (on 1.1.14) and put into service on 6.1.14. In 2015, the driver received a 1099-K for 20,000, and also received $200 in tips (LOL).
> ...


Great idea. Thanks for the write-up


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## effrontery (Feb 9, 2016)

UberPissed said:


> Lots of Tax questions, so I'm creating this post to walk you through how you would do this on TT.
> 
> Take the following hypothetical:
> Driver has a 2008 Honda Prius. The car was purchased in 2014 (on 1.1.14) and put into service on 6.1.14. In 2015, the driver received a 1099-K for 20,000, and also received $200 in tips (LOL).
> ...


OK, I'm getting there, using your example (Thanks!) Can you tell me specifically where the Safe Rider Fee deduction goes?

Also, for some of the other things, like gas receipts, water, etc. -- no one ever told me when I signed up that I needed to keep these receipts, so I didn't. I'm assuming you need receipts to be able to claim them, right? (Sorry if that's obvious.) Thanks again.


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## LAuberX (Jun 3, 2014)

effrontery said:


> OK, I'm getting there, using your example (Thanks!) Can you tell me specifically where the Safe Rider Fee deduction goes?
> 
> Also, for some of the other things, like gas receipts, water, etc. -- no one ever told me when I signed up that I needed to keep these receipts, so I didn't. I'm assuming you need receipts to be able to claim them, right? (Sorry if that's obvious.) Thanks again.


Did you start the return on the Home and Business edition yet?


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## effrontery (Feb 9, 2016)

LAuberX said:


> Did you start the return on the Home and Business edition yet?


I did. I'm in that section where you enter the expenses, but I don't see where the Safe Rider Fee would go.


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## LAuberX (Jun 3, 2014)

TurboTax will ask at some point if you had any business expenses while you are in the "business" section of doing the return, mine were:
1. Uber Fee (the 20-28% commission)
2. SRF Fee
3. Unpaid tolls
4. iPhone rental or data charges 

If you did not get prompted for miles driven, or expenses, start the section over and use "taxi/limousine" as your business.


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## effrontery (Feb 9, 2016)

LAuberX said:


> TurboTax will ask at some point if you had any business expenses while you are in the "business" section of doing the return, mine were:
> 1. Uber Fee (the 20-28% commission)
> 2. SRF Fee
> 3. Unpaid tolls
> ...


I'm looking at that section now--does it go under the "miscellaneous" tab? (I can take a screen shot of the options if it helps.) And I did use the code you provided for type of business. Thank you!


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## LAuberX (Jun 3, 2014)

Business is the tab where all business expenses are entered.


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## UberPissed (Aug 13, 2014)

effrontery said:


> OK, I'm getting there, using your example (Thanks!) Can you tell me specifically where the Safe Rider Fee deduction goes?
> 
> Also, for some of the other things, like gas receipts, water, etc. -- no one ever told me when I signed up that I needed to keep these receipts, so I didn't. I'm assuming you need receipts to be able to claim them, right? (Sorry if that's obvious.) Thanks again.


Commission and Fees.


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