# Uber Partner Gas Card, good or bad for Taxes?



## Uber Uber (Jun 27, 2015)

Is having less money deposited in your account, a good or bad thing when taxes come around? Would we get less deductions or also have to pay less tax, help me out here! Thanks!


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## Amsoil Uber Connect (Jan 14, 2015)

"Somewhere", in the tax code, Title 26, you will operate at a loss so the gas card is a moot point.


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## Uber Uber (Jun 27, 2015)

So would having this card let you show that you incurred a greater loss?


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## good4life (Oct 4, 2014)

Last year, Uber and Lyft showed gross fares as your income, so the card won't matter. And I agree with the comment, 'somewhere' I the code, you will operate at a loss.


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## Argel (Jul 28, 2015)

When taxes come around, the only reason I could think of why having less money deposited in your account is a good thing is that your interest income is also less in your 1099-INT, which is taxable. Your gas expense deducted from your Uber income, however, could be tricky. Remember that you if you're not an Uber employee then they are NOT reimbursing you for your gas. Uber takes it out of your gross pay therefore the gas expense is your expense and should be deductible on your tax returns. The tricky part is double counting your gas expense deductions. If you elect for the actual car expense method, then you can deduct your gas expense BUT if you're taking the standard mileage deductions, then the gas expense is already factored in the mileage so the IRS would disallow your gas expenses. 

Pay close attention when you receive your 1099 from Uber. If your 1099 shows net amount (amount equal to the total deposited in your bank account) then you might have to back out the actual gas expenses if you're taking the standard mileage deduction. If your 1099 shows gross amount (total amount earned) then make sure you're tracking your gas expenses and either deduct your actual car expenses or mileage, but not both. On a positive note, Uber partner gas card will probably provide you with statements that track the total gas expenses for you when you're trying to figure out whether actual or standard deductions is higher. 

But why go through all that trouble when you can have an affordable tax accountant figure it all out for you. Through our secure mobile app you can automatically track all your earnings and deductions in our platform which allows our tax experts to do your taxes for you... and yes, we're real people who are leveraging technology to save everyone time and money.


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