# Net operating loss?



## Nick781 (Dec 7, 2014)

I made $6500 and after mileage deduction like $3700 can I claim NOL?


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## Skinny1 (Sep 24, 2015)

How is that a loss? Profit right there 15% self employment, and federal due sir.


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## Nick781 (Dec 7, 2014)

Yea I made 3700 for all that time and work thats a loss. Lol.


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## Skinny1 (Sep 24, 2015)

Yep I feel the same way, its crazy. Not to mention risk, insurance etc.


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## Nick781 (Dec 7, 2014)

I haven't driven in like two weeks. Just not worth it anymore.


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## YouWishYouKnewMe (May 26, 2015)

If that is your only income you are not required to file under $6k federally, if its in addition to a w2 gig you'll just get less of a refund ... Uber on


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## StarzykCPA (Aug 6, 2015)

YouWishYouKnewMe said:


> If that is your only income you are not required to file under $6k federally, if its in addition to a w2 gig you'll just get less of a refund ... Uber on


Unfortunately with Uber we are talking about self-employment income, so the threshold is only $400


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## Skinny1 (Sep 24, 2015)

Lost $1k on our refund, my uber net was $2500 after expenses $4 k total. When I put the numbers in down went the refund. It was pretty sad I must say but I get it, it's income.


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## Older Chauffeur (Oct 16, 2014)

Skinny1 said:


> Lost $1k on our refund, my uber net was $2500 after expenses $4 k total. When I put the numbers in down went the refund. It was pretty sad I must say but I get it, it's income.


Roughly $380 of that was probably FICA taxes. You pay both the employer and employee shares (15.3%) on self employment income, plus income tax at your regular rate. You could have more per paycheck withheld on your regular jobs to boost your refund, but that amounts to giving Uncle Sam free use of your money.


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## DRiver II (May 24, 2015)

Nick781 said:


> I made $6500 and after mileage deduction like $3700 can I claim NOL?


did you claim all applicable miles? remember, 'dead' miles count toward your deduction...


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## Nick781 (Dec 7, 2014)

DRiver II said:


> did you claim all applicable miles? remember, 'dead' miles count toward your deduction...


Yes I am still being taxed =0


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