This gives you the totals for:Īnd other fees and taxes paid over the course of the year, all of which can usually be deducted from your business income. You can likely deduct the extra amounts on Schedule C. In fact, Uber makes it easy to deduct the correct amounts by providing a “1099-K Breakdown” on its tax summary page. Uber drivers receiving a 1099-K for the first time often are surprised to see that the income reported is greater than the amount they actually received in payment. That’s because IRS tax rules require Uber to report the full amount the customer paid, including the company’s commission and other fees. Form 1099-K refers to this as the “gross amount of payment card/third party network transactions.”ĭon’t worry. It also shows selected expenses you can likely deduct on your Schedule C. It’s simply a form that shows your 1099-MISC, 1099-K and 1099-NEC incomes on one page. The Uber tax summary isn’t an official tax document. Uber also provides its drivers with a third document, known as a tax summary. Whether you receive 1099s or not, you’re required to report and pay taxes on all the income you receive from your ridesharing service.

Uber, however, typically provides both documents to all of its driver-partners regardless of the amount income to remind them about reporting their income and to help make filing their taxes easier. Rideshare companies are also required to send 1099-NECs and 1099-MISCs to drivers who made $600 or more from driving or referrals and other income. There is no threshold for the number of payment card transactions beginning in 2023. Beginning in 2023, the reporting threshold is lowered to payments totaling more than $600. But you should definitely save your 1099s with your other tax records.įor tax years before 2023, ridesharing companies acting as third-party payment processors are required to issue 1099-Ks to drivers who receive more than $20,000 for the year and received more than 200 payments. Since Uber provides this information directly to the IRS, you don’t have to include the 1099s forms with your tax return. Form 1099-MISC for other income you’re paid, such as bonuses or referral fees.Form 1099-NEC for your driving services (included on Form 1099-MISC in years prior to 2020).Instead, it will report your earnings on two other forms: Uber, however, will not typically send you a W-2. If you have a “day job” as an employee in addition to your ridesharing gig, you should receive a W-2 from your employer and file it with your tax return as usual. You’re probably accustomed to receiving a W-2 from your employer to document your earnings.

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