# Questionable date range on 1099K form



## Texstar12 (Sep 5, 2015)

Alright, so what is the cut-off moment the 1099-K and 1099-MISC entails? Is it January 1, 2016 at midnight, January 1 at 4am, the end of that pay week which would've been January 4, 2016 @ 4am, or something else? My numbers aren't adding up and I have no idea which pieces of information should and shouldn't go with 2015 taxes. Thanks.


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## Older Chauffeur (Oct 16, 2014)

Go with whatever is on the 1099- that is what Uber is reporting to the IRS.


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## UberTaxPro (Oct 3, 2014)

Texstar12 said:


> Alright, so what is the cut-off moment the 1099-K and 1099-MISC entails? Is it January 1, 2016 at midnight, January 1 at 4am, the end of that pay week which would've been January 4, 2016 @ 4am, or something else? My numbers aren't adding up and I have no idea which pieces of information should and shouldn't go with 2015 taxes. Thanks.


December 31 at midnight should be the cut-off. Anything you earned(not necessarily paid) up to that time should be included because I believe they're using the accrual method of accounting. If you're using the cash method of accounting your records will be different.


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## Texstar12 (Sep 5, 2015)

UberTaxPro said:


> December 31 at midnight should be the cut-off. Anything you earned(not necessarily paid) up to that time should be included because I believe they're using the accrual method of accounting. If you're using the cash method of accounting your records will be different.


I emailed support this question, and they did say the 1099-K is supposed to contain fares from Jan. 1 through Jan. 1. However, When I add up my 18 weeks that I worked in 2015 (I started in late August), total fares are $9796.89 + total surges are $451.26 = $10,248.15. This is the figure that appears under "Gross Fares (Uber Fee included)" in the "Tax Summary for the period 2015" page. But that does not include any fares in that New Year week from 12/28-1/3. It cuts off at the end of 12/27 (12/28 @ 4am).

So now I'm really confused. If I report different income than what's on the 1099-K, is that bad? I kinda wanna get all of 2015's fares in there so I can do the same for expenses. Or should I just go by this 1099-K and count 12/28-12/31 with 2016, and go back and cut off my expenses at 12/27?


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## UberTaxPro (Oct 3, 2014)

Texstar12 said:


> I emailed support this question, and they did say the 1099-K is supposed to contain fares from Jan. 1 through Jan. 1. However, When I add up my 18 weeks that I worked in 2015 (I started in late August), total fares are $9796.89 + total surges are $451.26 = $10,248.15. This is the figure that appears under "Gross Fares (Uber Fee included)" in the "Tax Summary for the period 2015" page. But that does not include any fares in that New Year week from 12/28-1/3. It cuts off at the end of 12/27 (12/28 @ 4am).
> 
> So now I'm really confused. If I report different income than what's on the 1099-K, is that bad? I kinda wanna get all of 2015's fares in there so I can do the same for expenses. Or should I just go by this 1099-K and count 12/28-12/31 with 2016, and go back and cut off my expenses at 12/27?


You should report the correct amount of income that you actually received. If Uber made a mistake you should request a corrected 1099K from them. If you're reporting more income than your 1099K you may not need to worry about it. But if the 1099 incorrectly shows your total income as more than you actually made and Uber hasn't sent a corrected 1099 do this:
"For example, let's say that you received a 1099 for your business that shows an income of $1,000, but it should only show $750. You would simply enter $1,000 as your income on your Schedule C. Then on page 2 of the Schedule C, deduct $250-the difference between what the tax form is reporting and the amount you actually made-with the notation "1099K was overstated." Naturally, if there is a large difference, you will need to include more detail. In that case, the notation should read, "See statement attached.""


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## Texstar12 (Sep 5, 2015)

UberTaxPro said:


> You should report the correct amount of income that you actually received. If Uber made a mistake you should request a corrected 1099 from them. If you're reporting more income than your 1099K you may not need to worry about it. But if the 1099 incorrectly shows your total income as more than you actually made and Uber hasn't sent a corrected 1099 do this:
> For example, let's say that you received a 1099-MISC for your business that shows an income of $1,000, but it should only show $750. You would simply enter $1,000 as your income on your Schedule C. Then on page 2 of the Schedule C, deduct $250-the difference between what the tax form is reporting and the amount you actually made-with the notation "1099-MISC was overstated." Naturally, if there is a large difference, you will need to include more detail. In that case, the notation should read, "See statement attached."


Okay, thanks. And also, on the 1099-K, Uber includes the "Rider Fee" under the whole "Gross amount of payment card/third party network transactions" which amounts to $12,106.33, but I thought the Rider Fee "does not affect payout". Does that necessarily mean they're saying I earned all that? Because minus the rider fees and Uber commission (20%) fees, I'm at $8315.67.


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## UberTaxPro (Oct 3, 2014)

Texstar12 said:


> Okay, thanks. And also, on the 1099-K, Uber includes the "Rider Fee" under the whole "Gross amount of payment card/third party network transactions" which amounts to $12,106.33, but I thought the Rider Fee "does not affect payout". Does that necessarily mean they're saying I earned all that? Because minus the rider fees and Uber commission (20%) fees, I'm at $8315.67.


Yes, if the SRF and commissions are included in the 1099 gross you just deduct them as expenses on your schedule C. "Does not affect payout" doesn't mean "does not affect taxes" I guess!


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## Older Chauffeur (Oct 16, 2014)

I don't see how one can go wrong using the 1099 figures and one's own expenses for the tax year right up to Dec 31. It doesn't seem like it would send up any red flags, and would be easily explained if necessary. You earned $xxxx and had $xxxx in expenses for 2015, period. For example, the gas you bought on Dec 30 is going to most likely last into January, right? But you don't have to break it down into trips for 2015 or 2016.


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## Texstar12 (Sep 5, 2015)

Older Chauffeur said:


> I don't see how one can go wrong using the 1099 figures and one's own expenses for the tax year right up to Dec 31. It doesn't seem like it would send up any red flags, and would be easily explained if necessary. You earned $xxxx and had $xxxx in expenses for 2015, period. For example, the gas you bought on Dec 30 is going to most likely last into January, right? But you don't have to break it down into trips for 2015 or 2016.


I refilled at 11:45pm on 12/31 en route home for the ball drop.


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## UberTaxPro (Oct 3, 2014)

Older Chauffeur said:


> I don't see how one can go wrong using the 1099 figures and one's own expenses for the tax year right up to Dec 31. It doesn't seem like it would send up any red flags, and would be easily explained if necessary. You earned $xxxx and had $xxxx in expenses for 2015, period. For example, the gas you bought on Dec 30 is going to most likely last into January, right? But you don't have to break it down into trips for 2015 or 2016.


yes, unless the 1099 is not accurate. You don't want to pay tax on money you never made.


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## Texstar12 (Sep 5, 2015)

UberTaxPro said:


> yes, unless the 1099 is not accurate. You don't want to pay tax on money you never made.


Yeah, I replied to their email and asked them if they need to redo my 1099 because it only reflects up 'til the 27th. I'm going to sleep now. Thanks for the advice and help. Got cabby class/orientation in the morning!


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