Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

How do I handle receiveing both a 1099K and a 1099 MIsc from Uber?

carolalto
Level 1
 
Labels (1)
0 Cheers
5 Replies 5
IRonMaN
Level 15

You report whatever the actual income received for the year is.

ACME Taxes, Tatoos, Tires and Tomatoes (I had to get rid of the turtles - they kept running away)
abctax55
Level 15

That is an excellent question for your professional tax preparer.

Former Chump..oops..AllStar...I used to be a people person, then people ruined it


If a post answers your question, click on *Accept as solution* for future searches
IRonMaN
Level 15

But I think she sees her in the mirror every morning 😬

ACME Taxes, Tatoos, Tires and Tomatoes (I had to get rid of the turtles - they kept running away)
abctax55
Level 15

Maybe... maybe not.  The profile doesn't help.  

Former Chump..oops..AllStar...I used to be a people person, then people ruined it


If a post answers your question, click on *Accept as solution* for future searches
0 Cheers
qbteachmt
Level 15

1099-K is informational reporting that someone had Activity. "The IRS requires each payment settlement entity to send you a Form 1099-K by January 31 if it has processed at least $20,000 worth of payments and at least 200 transactions for you in the previous year."

1099-M is informational reporting that specific businesses have paid you $600 or more for business relationship where Box 7 = your fee for services.

And none of this has anything to do with your client's actual Business revenue. Your client can make $2 million, and as long as no customer ever has a total of $600 or more for that year, no customer would send your client a 1099-M. As long as your client never uses a Payment Settlement Entity (never gets payment through credit card, PayPal, eBay, etc) then there also is never a 1099-K.

You need to have the Uber Driver report all gross business activities, the same as anyone who is "in business."

*******************************
"Level Up" is a gaming function, not a real life function.
0 Cheers