# Net earnings doesn't match my payout



## SteelSox (Dec 14, 2018)

It's close, though. The gross earnings on my Uber tax summary are $4750.23. Net earnings are $3166.08. But I calculated all my weekly earnings for 2018 and it came out to $3218.40. Not sure whether to report the 3166 or the 3218 when I do my taxes.

Likewise on Lyft, my gross earnings are $3042.89 and minus expenses it's $2026.32. But my payouts only add up to $1994.07. 

Anyone run into anything similar?


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## FLKeys (Dec 27, 2018)

At first glance my numbers did not match either. I really have not had time to dive into it yet to see why not. I recorded every trip I did in a spread sheet so when I get time I will figure it out.


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## UberTaxPro (Oct 3, 2014)

Could be due to different accounting methods, most ride-share drivers use the "cash" method and Uber and lyft use the "accrual method"


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## FLKeys (Dec 27, 2018)

UberTaxPro said:


> Could be due to different accounting methods, most ride-share drivers use the "cash" method and Uber and lyft use the "accrual method"


I broke mine out both ways and with the accrual method it still appeared off some. Again I'll dig into it when I get time to see what exactly is going on. In no hurry since I will be owing taxes this years anyway.


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## Launchpad McQuack (Jan 8, 2019)

FLKeys said:


> I broke mine out both ways and with the accrual method it still appeared off some. Again I'll dig into it when I get time to see what exactly is going on. In no hurry since I will be owing taxes this years anyway.


Did you ever figure anything out? Mine don't match at all. I didn't get any 1099s from Uber, just a tax summary. I have no idea where they're getting their numbers.

According to Uber's summary, for 2018 I had (approximately):

~$550 gross trip earnings
+ ~$70 total additional earnings
- less than $10 expenses
--------------------------------------
~$620 net earnings

According to my trip record spreadsheet, I grossed about $1,000 from base fares (including in-app tips) and $3 from promotions in 2018. If I add these two numbers together, it is exactly (down to the cent) the amount that Uber deposited in my bank account in 2018. I don't do instant pay or anything like that. I refuse to pay people to give me the money that they owe me. So I just have the weekly scheduled direct deposit.

Uber's numbers aren't even close to my numbers. There shouldn't be any difference in accrual vs. cash accounting because I took some time off around Christmas and didn't start driving again until after the first of the year. So I received payment for all of the driving that I did in 2018 in 2018. No spillover into 2019. It should be nice, clean accounting.

Does Uber operate on a fiscal year instead of a calendar year?


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## FLKeys (Dec 27, 2018)

I really have not dug into it yet as I know I will be owing taxes so I am in no hurry. I won't be driving this coming weekend so I may use that time to figure out what is going on although I would rather go fishing the ocean has been calling my name lately.


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## Launchpad McQuack (Jan 8, 2019)

So if you are unable to reconcile the numbers from Uber's tax summary with your earnings records, should you just use the numbers from your earnings records on your Schedule C? Is there a reason to try to make them match? My earnings records match what was deposited in my bank account down to the penny. I have no idea how Uber got their numbers.


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## FLKeys (Dec 27, 2018)

Launchpad McQuack said:


> So if you are unable to reconcile the numbers from Uber's tax summary with your earnings records, should you just use the numbers from your earnings records on your Schedule C? Is there a reason to try to make them match? My earnings records match what was deposited in my bank account down to the penny. I have no idea how Uber got their numbers.


Good question I guess I will have to address that if I can't get them to balance.


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## FLKeys (Dec 27, 2018)

Finally got serious about doing my taxes. Got my Uber numbers to balance out to the penny. My Lyft numbers are off by $10.05 If I take rider payments minus fees from my summary it comes to $10.05 more than what Lyft deposited into my bank account. There were no late tips or adjustments that fell between 2018 & 2019. So with that I am going with my numbers and basically adding $10.05 to what Lyft reported as fees.


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## Launchpad McQuack (Jan 8, 2019)

I was never able to get mine to balance. Uber deposited about $1,000 in my bank account in 2018, but on their tax summary they claimed that they only paid me $700. I gave up and just used my numbers.


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## FLKeys (Dec 27, 2018)

I track every ride in a spread sheet. My Uber passenger payments and Uber fees from the statement did not match my tracking. However they said I made matched my deposits. My tracking records Rider Payment and Fees and uses a formula to show what I was paid, this way I know my earlier entries were correct in my log. So really no idea how the numbers were off in the annual summary when the earnings were spot on. What I was paid matched I am good with that. Lyft, nothing matched and like I said their pay was off by $10.05 and there were no carry overs from 2018 to 2019 to account for it. I trust my numbers over theirs.


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## Launchpad McQuack (Jan 8, 2019)

FLKeys said:


> I track every ride in a spread sheet.


I do too. When I totaled everything in my spreadsheet for 2018, it matched the amount that Uber deposited in my bank account to the penny. It didn't match Uber's tax summary at all. I don't understand how Uber thinks they paid me $700 in 2018 when, in reality, they deposited $1,000 in my bank account. The only thing that I could come with was that maybe Uber operates on a fiscal year instead of a calendar year. That's why I was curious to see what you ended up coming up with when you tried to balance things.



FLKeys said:


> I trust my numbers over theirs.


I do too. You would think that a company that claims that one of their primary business functions is processing transactions on my behalf would do a better job of keeping track of the transactions that they process. It almost makes it seem like their primary function is operating a transportation business instead.....


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## FLKeys (Dec 27, 2018)

Launchpad McQuack said:


> I do too. When I totaled everything in my spreadsheet for 2018, it matched the amount that Uber deposited in my bank account to the penny. It didn't match Uber's tax summary at all.  I don't understand how Uber thinks they paid me $700 in 2018 when, in reality, they deposited $1,000 in my bank account. The only thing that I could come with was that maybe Uber operates on a fiscal year instead of a calendar year. That's why I was curious to see what you ended up coming up with when you tried to balance things.
> 
> I do too. You would think that a company that claims that one of their primary business functions is processing transactions on my behalf would do a better job of keeping track of the transactions that they process. It almost makes it seem like their primary function is operating a transportation business instead.....


I ended my year on December 30th, the last Sunday of the year because that is what Uber and Lyft both did.


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## Mista T (Aug 16, 2017)

Here is what I have done for the last three years. Very simple, very easy, anyone can do it.

1. Look up how much money was deposited into your bank from Lyft and Uber. That is your GROSS INCOME.
2. Keep track of your mileage in a mileage log on a daily basis. Pen and paper works terrific, and it doesn't cost hardly anything.
3. Add up your "other" expenses that are not counted in the standard mileage deduction. These would be cell phones, car washes, tolls, and stuff you give away or use to protect your vehicle.

Simple. That's all the stuff you need to do your taxes.

As far as getting audited: unless you make six figures, the government is not going to waste time auditing you. It will not pay off for them. What are they gonna do, hit you with an extra $42 in taxes? And if you are making six figures, you already have an accountant, so you are likely ignoring all of the above anyway, lol.


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## Launchpad McQuack (Jan 8, 2019)

As an update on this topic, the tax summary that Uber provided me for 2019 was spot on. The net payout on the tax summary, the net fares in my tracking spreadsheet, and the deposits made to my bank account all matched each other to the penny. I don't know why the 2018 tax summary was so screwed up.


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