# Is this mean that I will have to pay taxes from money that I never seen?



## uanic (Sep 6, 2016)

Lyft site says that they put my GROSS in 1099. That's hilarious!


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## LAuberX (Jun 3, 2014)

read the "taxes" forum. lots of info there.

gross: less fees, less commission, less standard mileage deduction... no taxes in most cases.


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## Mars Troll Number 4 (Oct 30, 2015)

uanic said:


> Lyft site says that they put my GROSS in 1099. That's hilarious!


This is actually the CORRECT... way for lyft to be doing it. The cab company i drive for does the same thing. Lyft is following the reporting regulations that were set in place for the cab drivers when credit card readers made it into taxis. Your entire gross revenue including reimbursements for tolls all count as "GROSS REVENUE".. This is correct.

At the end of the year a full time driver could have $40,000-50,000 + in deductions, this is the correct way for them to be handling it. Because we are independent contractors all money the customer pays period legally flows through us before going uphill to Uber/lyft whomever.


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## crazy916 (Jul 6, 2016)

Mears Troll Number 4 said:


> Because we are independent contractors *all money the customer pays* period legally flows through us before going uphill to Uber/lyft whomever.


This is what worries me most about upfront pricing.


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## SEAL Team 5 (Dec 19, 2015)

uanic said:


> Lyft site says that they put my GROSS in 1099. That's hilarious!


No, you don't pay taxes on money you never seen. You have gross revenue and net revenue. Easiest way to see this is the 1099 you get from Lyft is your gross and what was deposited into your bank account from Lyft is your net. The difference is Lyft fees, Lyft deductions and any payment fee. Ignore what's on your 1099 and deduct your expenses from the monies that was deposited into your account. The remainder is your net income in which you owe taxes on. If you itemized your deductions correctly than you'll hardly owe any taxes.


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