# TAX 1099k And Turbo Tax Question



## Joepunk (Dec 1, 2015)

I know there are a bunch of these threads but none with the issue I am having. My information is correct but my income is wrong, really wrong. I made at least 1500 in the month of December yet it is only coming up 7xx. Anyone else have this issue?

Also on Turbo Tax it says that I can't do a 1099-k on a separate form.

"We don't need to create a separate entry for your 1099-K info in TurboTax. That's because your 1099-K income should already be included in other income, such as your self-employment or rental income."​So does this mean I am supposed to include it in another area. I mean I loaded two previous W-2s but I don't know where I am supposed to enter this information.


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## UberTaxPro (Oct 3, 2014)

Joepunk said:


> I know there are a bunch of these threads but none with the issue I am having. My information is correct but my income is wrong, really wrong. I made at least 1500 in the month of December yet it is only coming up 7xx. Anyone else have this issue?
> 
> Also on Turbo Tax it says that I can't do a 1099-k on a separate form.
> 
> "We don't need to create a separate entry for your 1099-K info in TurboTax. That's because your 1099-K income should already be included in other income, such as your self-employment or rental income."​So does this mean I am supposed to include it in another area. I mean I loaded two previous W-2s but I don't know where I am supposed to enter this information.


If your 1099k is wrong you should request a corrected one . As long as your reporting more than your 1099k states it shouldn't be a problem for you. Its when you report less than the 1099k states that you can run into trouble. In that case you would need to attach a statement to your return explaining the situation.
You need to enter your info onto Schedule C in turbo tax. Be sure your version of turbo tax does Schedule C. Schedule C will determine your ride-share self employment income.


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## Joepunk (Dec 1, 2015)

Alright, do you remember what you used as a business code? I am thinking of using taxi since there is no ride sharing options

485300​485300​


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## UberTaxPro (Oct 3, 2014)

Joepunk said:


> Alright, do you remember what you used as a business code? I am thinking of using taxi since there is no ride sharing options
> 
> 485300
> 485300​


I think there's a code for "other"


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## Skinny1 (Sep 24, 2015)

999999


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## I_Love_Uber_Not (Jan 28, 2016)

Joepunk said:


> Alright, do you remember what you used as a business code? I am thinking of using taxi since there is no ride sharing options
> 
> 485300
> 485300​


Yes, you need to use Taxi.


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## William1964 (Jul 28, 2015)

It sounds like you did the same thing I did. TurboTax has done my taxes I haven't filed yet I'm going to wait until April to file.

I went the self-employment route to and I was not asked enter 1099k when it was checked and smart checked and whatever else they do, they came up with a low audit score. And I'm protected 100%. It was 80 bucks. Took about 30 minutes


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## William1964 (Jul 28, 2015)

All you should do is keep a copy of the 1099 on file just in case you have to prove it your self employment income. At which point you produced the 1099 K and your w-2 like me and what the misc 1099 miscellaneous, he receives your interest payments whatever.


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## William1964 (Jul 28, 2015)

Also got a huge new car deduction which put like $600 in my pocket. He gave me like $12,000 credit for using my 2014 Chevy Cruze.

I've never used H&R Block. I would look into doing it yourself using TurboTax.


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## I_Love_Uber_Not (Jan 28, 2016)

You need to deduct Uber's fees uber commissions paid, I add my expenses, but I end up using the miles which outweigh the expenses, got can only use one or the other expenses/miles, not both, Turbo tax will tell you which one you will get a better return with.


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## Older Chauffeur (Oct 16, 2014)

William1964 said:


> It sounds like you did the same thing I did. TurboTax has done my taxes I haven't filed yet I'm going to wait until April to file.
> 
> I went the self-employment route to and I was not asked enter 1099k when it was checked and smart checked and whatever else they do, they came up with a low audit score. And I'm protected 100%. It was 80 bucks. Took about 30 minutes


Okay, so I don't receive either type of 1099 from rideshare (see my sig below) but am curious about what you people receive. Is the 1099k breaking out amounts already reported on the 1099misc? I've read where Uber sent out 1099k forms last year, but I thought they had switched to misc this year. Do they show in Box 7 " non- employee compensation?"
Maybe someone could post pics with personal info redacted.
BTW, "protected 100%" still leaves you 100% responsible for the info you supply, just as when using any human tax preparer. They are only responsible for the calculations entered in the return.


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## Chess (Oct 12, 2015)

I'm in the same boat as the OP. I only made 450.xx but my W-2s are way higher as I only do it once every couple of weeks of driving. I'm assuming I don't put the info in anywhere that's according to what TT is telling me as well.

Thanks y'all !!


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## LAuberX (Jun 3, 2014)

Chess said:


> I'm in the same boat as the OP. I only made 450.xx but my W-2s are way higher as I only do it once every couple of weeks of driving. I'm assuming I don't put the info in anywhere that's according to what TT is telling me as well.
> 
> Thanks y'all !!


W-2? Uber only issues a 1099misc or a 1099K.


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## Older Chauffeur (Oct 16, 2014)

LAuberX said:


> W-2? Uber only issues a 1099misc or a 1099K.


I think he is talking about regular employment earnings reported on a W2 being the bulk of his income.??


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## Chess (Oct 12, 2015)

Older Chauffeur said:


> I think he is talking about regular employment earnings reported on a W2 being the bulk of his income.??


That's correct sorry....

I went thru the prompts for the 1099K but gave me the same message....so do I not have to enter it I guess I'm crazy lol


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## Beefer6 (Feb 1, 2016)

Can I just enter my info from the 1099-k into the 1099-misc section or do I have to do the sched c?


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## Older Chauffeur (Oct 16, 2014)

Beefer6 said:


> Can I just enter my info from the 1099-k into the 1099-misc section or do I have to do the sched c?


It is business related info that has to go on Schedule C to determine profit or loss, based on expenses charged against income from rideshare activity.


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