# Lyft will ONLY send out the 1099 forms to those who fit certain criteria



## Feisal Mo

1) Drivers who give more than 200 rides and earn more than $20,000 in passenger payments in the last year will receive a 1099-K.

2) Drivers who earn more than $600 in earnings from bonus payouts (such as driver and passenger referral fees and mentor training) will receive a 1099-MISC.

3) Drivers who do not meet either of the above criteria in the last year will not receive a tax form from Lyft.

Most drivers are part-timers and will not make more than 20,000 a year. Is this a good thing for us? Can we still claim the miles on our cars for tax reasons? or we need a 1099 form in order to claim the miles?

Please advise if you're knowledgeable on this subject.


----------



## LAuberX

I always got a 1099 from employers when I billed over $600.00/year...

We will all know the answer within a month!


----------



## Feisal Mo

Yes...that's the norm. I was expecting a 1099 since i have made more than $600 too. Something doesn't make sense. I will ask my wife about this since she's a cpa.


----------



## CowboyMC

I just started last year. Someone who worked for Uber in 2013 could answer this.


----------



## gypsy

Questions:

If I made less than $600 from Lyft last year (made $350) , should I report this? ...(I did $700 from Uber, so I know I need to report this one...)
But not sure about Lyft since is less than $600...

Also:
Can someone that did the taxes last year 2013 please provide UBER or Raiser's Employer Identification Number/Tax ID??


----------



## Tristan Zier

Feisal Mo said:


> 1) Drivers who give more than 200 rides and earn more than $20,000 in passenger payments in the last year will receive a 1099-K.
> 
> 2) Drivers who earn more than $600 in earnings from bonus payouts (such as driver and passenger referral fees and mentor training) will receive a 1099-MISC.
> 
> 3) Drivers who do not meet either of the above criteria in the last year will not receive a tax form from Lyft.
> 
> Most drivers are part-timers and will not make more than 20,000 a year. Is this a good thing for us? Can we still claim the miles on our cars for tax reasons? or we need a 1099 form in order to claim the miles?
> 
> Please advise if you're knowledgeable on this subject.


This is correct and in line with the law. It is only the requirements for Lyft to send a paper 1099 form to you. If you do not receive a paper form, you still need to report the income. The IRS knows you made that income (all electronic payments are tracked) and you will likely get audited if you do not declare it.


----------



## Tristan Zier

gypsy said:


> Questions:
> 
> If I made less than $600 from Lyft last year (made $350) , should I report this? ...(I did $700 from Uber, so I know I need to report this one...)
> But not sure about Lyft since is less than $600...


Yes, you will need to report it. You likely won't owe taxes on it, but you still need to report it - otherwise the IRS's systems will trigger a mismatch and put you at risk for an audit.



gypsy said:


> Also:
> Can someone that did the taxes last year 2013 please provide UBER or Raiser's Employer Identification Number/Tax ID??


You do not need their EIN. As a contractor, you record your income for your "driving services business" on a Schedule C, which doesn't require an EIN. Uber is just one possible way for you to market/acquire users for your "driving services business" (even if it's the only way you do it). If you are being asked for the EIN, you are filling out the information in the wrong section (e.g. you might be filling it out in the W-2 employee income section).


----------



## frndthDuvel

Tristan Zier said:


> This is correct and in line with the law. It is only the requirements for Lyft to send a paper 1099 form to you. If you do not receive a paper form, you still need to report the income. The IRS knows you made that income (all electronic payments are tracked) and you will likely get audited if you do not declare it.


I am not saying you should not report income. But I am going to say the chances of one getting audited because you did not report 350 dollars in income is HIGHLY FREEKIN unlikely. The IRS does not have enough money to audit those who make enough that they are likely cheating and if they are would be worth the price of the audit.


----------



## Rockwall

frndthDuvel said:


> I am not saying you should not report income. But I am going to say the chances of one getting audited because you did not report 350 dollars in income is HIGHLY FREEKIN unlikely. The IRS does not have enough money to audit those who make enough that they are likely cheating and if they are would be worth the price of the audit.


Take it from someone who was audited for a small amount. you dont want to deal with the IRS.
Anytime there is a mismatch between what you declared and what IRS database has, a flag is turned on. Next thing you will receive an automatic letter asking why is there a difference...


----------



## Big Machine

Rockwall said:


> Take it from someone who was audited for a small amount. you dont want to deal with the IRS.
> Anytime there is a mismatch between what you declared and what IRS database has, a flag is turned on. Next thing you will receive an automatic letter asking why is there a difference...


Yep and to add to this, the IRS is more likely to go after the low hanging fruit that is easier to collect than a more complicated case. Anyone thinking they can just not report because they didnt receive a 1099 could be in for some real fun even if it takes a couple of years for anything to happen.


----------



## frndthDuvel

Rockwall said:


> Take it from someone who was audited for a small amount. you dont want to deal with the IRS.
> Anytime there is a mismatch between what you declared and what IRS database has, a flag is turned on. Next thing you will receive an automatic letter asking why is there a difference...


How long ago was this? Again not saying anybody should not report all income. But saying this fear most have of the IRS seems a bit overblown at times. Their funding has been slashed as have the number of audits. IF you don't have the money to pay the IRS, working out a payment schedule is easier and cheaper than one might think. They don't imediately come after you to send you to jail you or attach your bank account. In fact cheaper to owe the IRS then borrow the money lets say on a credit card to pay the IRS. That being said, if one does get on the wrong side of the IRS, that certainly is no fun, and avoiding that at all costs is the safe way to go, just don't stress about it. Especially about the amounts most ride share drivers are making. YMMV


----------



## Lyft4uDC

how the hell do I know how much I made during the year with lyft anyway? I have no idea


----------



## Rockwall

Lyft4uDC said:


> how the hell do I know how much I made during the year with lyft anyway? I have no idea


Check the weekly deposits in your bank from Lyft, or the emails they sent


----------

