# 1099-k?



## Grubhubflub (Jun 16, 2018)

As I understand it, this form is for the payment card transactions. That was not my money, so why am I having to pay taxes on it?


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## Ms. Mercenary (Jul 24, 2020)

Grubhubflub said:


> As I understand it, this form is for the payment card transactions. That was not my money, so why am I having to pay taxes on it?


Come again? 😳


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## Grubhubflub (Jun 16, 2018)

Ms. Mercenary said:


> Come again? 😳


I just don't understand what's going on. I made less than last year, but my taxes are almost double. I think Uber made a mistake. I guess I need to talk to an accountant.


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## 25rides7daysaweek (Nov 20, 2017)

Grubhubflub said:


> As I understand it, this form is for the payment card transactions. That was not my money, so why am I having to pay taxes on it?


You pay taxes on your earnings
The uber fees are deductable as is the mileage
I actually have an accountant that does it all


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## Grubhubflub (Jun 16, 2018)

25rides7daysaweek said:


> You pay taxes on your earnings


Right. But I'm being taxed on the amount shown on the 1099-nec and the amount shown on the 1099-k. I didn't make that much. Besides, I just take the standard deduction.


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## 25rides7daysaweek (Nov 20, 2017)

Grubhubflub said:


> Right. But I'm being taxed on the amount shown on the 1099-nec and the amount shown on the 1099-k. I didn't make that much. Besides, I just take the standard deduction.


Idk exactly what you are looking at but 
I was asked if I wanted them to remove
the tax money from the unemployment 
If you didnt and got it that might be why...


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## UberChiefPIT (Apr 13, 2020)

Grubhubflub said:


> Right. But I'm being taxed on the amount shown on the 1099-nec and the amount shown on the 1099-k. I didn't make that much. Besides, I just take the standard deduction.


“Standard deduction” is different than your mileage deduction for self-employment.

Your SD is based on your filing status, marital status, and dependents. THEN you also get a mileage deduction for self-employment income.

Your mileage deduction should completely offset every penny you earned from rideshare.


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## Seamus (Jun 21, 2018)

Grubhubflub said:


> Right. But I'm being taxed on the amount shown on the 1099-nec and the amount shown on the 1099-k. I didn't make that much. Besides, I just take the standard deduction.


Not to be disrespectful but you clearly have no idea how to do your taxes. A 1040 standard deduction has nothing to do with a schedule C business expense deductions. Also you list Uber’s gross on the 1099k but then you deduct the commission and fees as a business expense so you don’t pay taxes on Uber’s 1099k gross. In addition to your mileage there are several other business expenses you could deduct.

You should really hire someone to do your taxes if you don’t have any idea how to properly do a schedule C. By the nature of your question you clearly don’t.


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## Grubhubflub (Jun 16, 2018)

Seamus said:


> Not to be disrespectful but you clearly have no idea how to do your taxes. A 1040 standard deduction has nothing to do with a schedule C business expense deductions. Also you list Uber’s gross on the 1099k but then you deduct the commission and fees as a business expense so you don’t pay taxes on Uber’s 1099k gross. In addition to your mileage there are several other business expenses you could deduct.
> 
> You should really hire someone to do your taxes if you don’t have any idea how to properly do a schedule C. By the nature of your question you clearly don’t.


Yeah, I don't know how to do them. I just used TaxAct. I transferred all the info from the 1099-k and 1099-NEC. Are you telling me those forms didn't have all the info I needed?


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## Seamus (Jun 21, 2018)

Grubhubflub said:


> Yeah, I don't know how to do them. I just used TaxAct. I transferred all the info from the 1099-k and 1099-NEC. Are you telling me those forms didn't have all the info I needed?


They should, the 1099 NEC is straightforward and just make sure the 1099k commission and Fees amount goes on line 10 of schedule C so it’s deducted. You should also be expensing your mileage, cell phone, supplies, etc.etc.. your mileage is your biggest expense.


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