![]() Many Uber drivers report their income on Schedule C, Profit or Loss from Business, of their 1040 forms along with any business-related expenses. See More > This Guy Resolved His $8,597 Back Taxes - Learn His Methods! Schedule C and Schedule SE ![]() To do so, you will have to file Form 1040 along with Schedule C and Schedule SE. If you earn at least $400 with Uber rides, you are obligated to report this income to the IRS, regardless of whether you received your 1099 or not. A 1099-MISC for drivers with at least $600 in non-driving earnings.īy doing so, Uber reminds its drivers to report their earnings from ridesharing and makes the filing process easier.A 1099-K for drivers with at least 200 transactions or $20,000 in earnings.Form 1099-MISC is for reporting income from other sources, such as referrals and bonuses not related to driving.Īlthough Uber sends out both 1099 forms to all drivers, regardless of their earnings, the IRS only requires the issuance of: Even though the amount in Box 1a of Form 1099-K will be greater than what you actually received in payments, you will only have to pay tax on your actual earnings. The former will list the total amount received from your passengers and includes the Uber commission along with other fees. Usually, Uber drivers get a couple of forms from the company they are driving for: Form 1099-K and Form 1099-MISC. The company also doesn’t withhold taxes from drivers’ paychecks and reports all their earnings on Form 1099. Since Uber drivers are non-employees, Uber doesn’t provide them with typical employee benefits, such as vacation or health insurance. At the end of the year, they usually receive Form 1099 instead of a W-2 used for employees. Uber drivers are classified as independent contractors providing driver services. 8 When to Pay Your Uber Taxes Uber Drivers Tax Classification
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