As an independent contractor, you may owe quarterly taxes for your Uber earnings. This rate includes driving costs, gas, repairs/maintenance, and depreciation. This means it’s your responsibility to pay your income tax at tax time. April 15, 2021: Deadline for free federal filing with TurboTax Self-Employed, 50% off TurboTax Live Self-Employed (state filing not included) April 15, 2021: Tax filing deadline. Or you can use the standard IRS mileage deduction. You’ll receive an Uber tax summary on your driver dashboard before January 31, 2021. Potential deductible business-related expenses may vary depending on how your business is set up. Backup withholding tax will be reported in Box 4 on 1099-K form. You can deduct the actual expenses of operating the vehicle, including gasoline, oil, insurance, car registration, repairs, maintenance, and depreciation or lease payments. But what if you never received anything from Uber or Lyft, or you can’t access your documents? Audit Support Guarantee: If you received an audit letter based on your 2020 TurboTax return, we will provide one-on-one support with a tax professional as requested through our Audit Support Center for returns filed with TurboTax for the current tax year (2020) and the past two tax years (2019, 2018). Sign up Total online miles include all the miles you drove waiting for a trip, en route to a rider, and on a trip. You may opt-in for a mailed copy of your 1099 forms by December 31, 2020 by going to drivers.uber.com, selecting the Tax Settings tab along the top of the page, and then unchecking the box next to "Go Green! If you’d like to learn more, the IRS website has information about Forms 1099-K, 1099-NEC, and 1099-Misc. Uber is not responsible for third party offers, products or services. Should you face any issues when updating your information in the Tax Settings page, you can reach out to the support team through help.uber.com. The amount shown on this form will exceed the actual amount of payments you received as Uber … You will receive two tax summaries: one activity with Uber Eats and another for Uber. You may opt-in for a mailed copy of your 1099 forms by December 31, 2020 by going to drivers.uber.com, selecting the Tax Settings tab along the top of the page, and then unchecking the box next to "Go Green! This discount cannot be combined with any other offers. Part of what you ‘spent' is the part that you can claim for your vehicle expenses. Please refer to TurboTax for additional information. For more information, please review “What is the 1099-K”, "What is the 1099-NEC", and “What is the 1099-MISC” questions below or at IRS.gov. Do NOT deduct these costs … If you use your car for both ride-sharing and personal transportation, you can deduct only the portion of your expenses that … We recommend that you seek guidance from a qualified tax service like TurboTax and/or contact an independent tax professional to better understand your possible deductions. The tax summary provides a detailed breakdown of your annual earnings and business-related expenses that may be deductible. 1099s will be mailed as well to drivers and delivery people who opted in for a mailed copy. Note: Certain states have implemented lower reporting thresholds. To verify your full legal name, Tax Identification Number (TIN), and address, go to drivers.uber.com and navigate to Tax Settings along the top of the page. According to Uber, “You’ll receive an Uber tax summary on your driver dashboard before January 31, 2020.” If you … Download 1099 forms electronically!". You can access these offers directly from your driver dashboard. Don't have an account? In addition, drivers and delivery people who have backup withholding during the year will receive a 1099-K regardless of any federal or state thresholds. TurboTax will be offering free and discounted services to drivers and delivery partners. What if my tax advisor has questions about Uber? You can find out more … You can learn more about Form 1099-K at IRS.gov. We recommend that you seek guidance from a qualified tax service like TurboTax and/or contact an independent tax professional for specific answers to tax questions. Both Uber and Lyft will report your income on Form 1099-K if you earned at least … Because Uber drivers are independent contractors, this means you are running your own business as a sole proprietor. Sign In Email or mobile number. What’s TurboTax Live? Drivers use the Uber platform in different ways. 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