# Social Security and Medicare taxes?



## Jimm57 (Oct 17, 2016)

* Jimm57 New Member *
Location:
Apex
I am VERY confused with doing my taxes. Im using turbo tax. Needed a place to put my 1099-k income, they said I needed to download the bussiness edition on top of my delux version. Did that, entered in all my income and deductions. Read on a turbo tax Q&A that I needed to deduct social security and medicare taxes of 15% of my income. Have posted questions on local Uber driver forum and have not gotten any replies in a week. Is nobody doing this? Did anyone here also add the bussiness edition? If not, what are you doing with your income and deductions? Turbo tax shows I lost about $1000 as a driver after making $2500 for the 8 weeks I drove, and put 4000 miles on my car! Never driving Uber again. Even Walmart pays more. Please help!


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## UberTaxPro (Oct 3, 2014)

Jimm57 said:


> * Jimm57 New Member *
> Location:
> Apex
> I am VERY confused with doing my taxes. Im using turbo tax. Needed a place to put my 1099-k income, they said I needed to download the bussiness edition on top of my delux version. Did that, entered in all my income and deductions. Read on a turbo tax Q&A that I needed to deduct social security and medicare taxes of 15% of my income. Have posted questions on local Uber driver forum and have not gotten any replies in a week. Is nobody doing this? Did anyone here also add the bussiness edition? If not, what are you doing with your income and deductions? Turbo tax shows I lost about $1000 as a driver after making $2500 for the 8 weeks I drove, and put 4000 miles on my car! Never driving Uber again. Even Walmart pays more. Please help!


You only need to pay self employment taxes (soc security and medicare) if you have a net income of $400 or more. With a $1000 loss you owe 0 in self employment for your Uber activities. Turbo Tax puts your income and deductions on schedule c.


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## Jimm57 (Oct 17, 2016)

THANK YOU!! Very much appreciated!


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## SEAL Team 5 (Dec 19, 2015)

UberTaxPro said:


> You only need to pay self employment taxes (soc security and medicare) if you have a net income of $400 or more. With a $1000 loss you owe 0 in self employment for your Uber activities. Turbo Tax puts your income and deductions on schedule c.


You made that seem so easy.



Jimm57 said:


> Turbo tax shows I lost about $1000 as a driver after making $2500 for the 8 weeks I drove, and put 4000 miles on my car!


Not driving for Uber again would be a very wise move. With your gross revenue at $.625/mile that's not very good at all.


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## Lee239 (Mar 24, 2017)

UberTaxPro said:


> You only need to pay self employment taxes (soc security and medicare) if you have a net income of $400 or more. With a $1000 loss you owe 0 in self employment for your Uber activities. Turbo Tax puts your income and deductions on schedule c.


So if you get a 1099 from Uber but don't owe taxes due to deductions do you still have to file?


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## UberTaxPro (Oct 3, 2014)

Lee239 said:


> So if you get a 1099 from Uber but don't owe taxes due to deductions do you still have to file?


Yes, filing and SE tax are separate issues!


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