# Please take a look at my 1099 summary I have a question



## Qowpel (Mar 31, 2016)

So on this image here is what uber sent me.

As you can see, I just wanted to ask. Which number on here is the number that I am liable to be taxes on? Is it the number at the top left that says $16955.31 that I am to be taxed on? OR is the number BELOW that that says $20017.19?

Secondly, it says that I have 10972.90 on trip miles for 2016. The thing is though, that I have basically a 2 to 1 ratio of mileage, in that I drove 2 dead miles roughly, for every single on trip mile that I drove, meaning my dead miles was over 21,000. Is that ok and will I get audited for having a 2 to 1 ratio? Thanks guys!


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## Qowpel (Mar 31, 2016)

It seems that in my actual 1099 k it says -----> 1a Gross amount of payment card/third party network transactions $ 20,017.19. This is odd to me though as I know I was never had $20017 deposited in my account over 2016, so I am confused why it says this on my 1099 k. Does it say this on my 1099 k due to the fact that I must manually deduct the booking fees and tolls and stuff that is in my attachment above?


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## NCUberGuy (Aug 27, 2016)

$20k is technically the correct amount. On your taxes, you can deduct all of the fees as business expenses, including mileage and other expenses you may have incurred.


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## Qowpel (Mar 31, 2016)

So, if 20k is the correct amount, how is that? Because I checked my statements and added up the total of my deposits during april 2016, to the very end of 2016, and it totaled much closer to $16000. Wouldn't I only be getting taxed on that amount? Because uber did NOT go deposit anywhere NEAR $20,000 into my account, so aren't I only liable to be taxed on the amount they deposited? OR Am I to take the $20,000 figure, and deduct my
(# of total miles x $0.54) AND deduct the booking fees in the above attachment? If that is the case, Then wouldn't I take the exact following figure ($20,017 MINUS all of the fees in the above attachment AND THEN deduct my total miles x .54, and THAT is what I am to be taxed on?)


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## cheerose (Aug 29, 2014)

The amount on the 1099K is what the TLCs processes through the app. This is your gross revenue. 
You will then need to take off the Uber/Lyft fees / that should get you to the total if your deposits. 

At that point, you start deducting your standard mileage rate and other allowable expenses. Your end result is what you are taxed on...


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## Qowpel (Mar 31, 2016)

Thanks buddy. So just to make it absolutely clear, My gross revenue according to what you said, is the amount of $20,017.19 PLUS the incentive payments they gave me, which is listed in the same attachment, which is $551.26. Added together, that means that my GROSS revenue, is $20,568.45.

SO from there, do I deduct the bolded "Uber Service Fee" on the bottom right of the attached document I have attached here? Like is that the correct uber fee deduction to make from my gross revenue? THEN from there I can deduct my mileage deductions? (Or should I be deducting only the 'booking fees' on the left hand side of the attachment? Thanks a lot cheerose!


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## The LAwnmower (May 1, 2014)

The way I've always did it is I take the $20,017+551. Then I deduct Uber Service Fee+All the fee's under Gross Fare+0.54 cents mile.


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## UberTaxPro (Oct 3, 2014)

Your schedule C might look like this:
$20,568.45
- 2527.85
- 8.75
- 27.00
- 0.33
- 17,280(just a guess at your mileage 32,000 x .54 cents. - could be more or less on your *mileage log*)
_____________________________________
$724 Net taxable income


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## The LAwnmower (May 1, 2014)

UberTaxPro said:


> Your schedule C might look like this:
> $20,568.45
> - 2527.85
> - 8.75
> ...


You need to deduct the Uber Service fee too


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## Qowpel (Mar 31, 2016)

Wait, so in what you just quoted, he had already deducted the Uber Booking fee ($2527.85), the split fare ($8.75, which by the way is the split fare deductible?), the airport fee ($27.00), and the City fee ($0.33)... Are you saying ON TOP OF THIS I must deduct the bolded, "Uber Service Fee" that was in my tax summary under "other potential deductions" (which would be ANOTHER $4245.04?) Because if I did that wouldn't that be way too many "UBER FEES" to deduct? that sounds like way too much but maybe I am wrong.. and I say this especially because somehow my 1099 k shows the above figure of 20,568.45 even though for 2016, they only deposited around $15,000 or something into my account, which would suggest I made roughly 15000, but now I am deducting basically almost half of that in these Uber fees alone? Who is wrong here? Or maybe I am wrong


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## Qowpel (Mar 31, 2016)

anyone?


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## Altima ATL (Jul 13, 2015)

What you posted here was not your 1099k - it was a summary from Uber.

The 1099k is a different document with numbered boxes etc..

Then you will need to calculate your business expenses separately.


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## Human v2.0 (Mar 5, 2017)

What you posted is a summary for informational purposes.
The 1099-K box 1 is what you enter for gross revenue on Schedule C
Add all the fees together (yes, including the Uber Fees) and put them in the box "Commissions and fees on Schedule C (Part II Line 10)
Fill out Part IV to claim vehicle expenses on line 9. You rideshare miles x $0.54 PLUS all tolls paid.

If you are confused by the mention of Schedule C, you're doing it all wrong and are in desperate need of help.

You also need to file Schedule SE (self employment tax)

The good news is that if you really drove 32,000 miles, your mileage deduction is more than what you earned, so you can actually deduct a loss from any other income you have.


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