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MY CLIENT HAS UBER GROSS EARNING OF $560 AND NET EARNING OF $326. I'M NOT SURE THAT THIS INCOME HAS TO INCLUDE IN THE RETURN?

Geotmongar
Level 1

MY CLIENT HAS UBER GROSS EARNING OF $560 AND NET EARNING OF $326. I'M NOT SURE THAT THIS INCOME HAS TO INCLUDE IN THE RETURN?

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Just-Lisa-Now-
Level 15
Level 15

Sch C   gross earnings, then deduct his expenses 


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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Just-Lisa-Now-
Level 15
Level 15

Sch C   gross earnings, then deduct his expenses 


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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IRonMaN
Level 15

You aren't sure, but I'm positive that it has to be included in his return.

ACME Taxes, Tatoos, Tires and Turtles (I've expanded my line of products to better serve you)
sjrcpa
Level 15

All income, from whatever source derived, is taxable - unless the Code provides an exemption.

And it doesn't matter if you get a 1099 for it or not.


ex-AllStar
jeffmcpa2010
Level 8

Another one of those who ask a question that makes you question their abilities.....

PATAX
Level 11

👍 God bless you Jeff... CPE is out there... 

shf1957
Level 4

You enter their Gross earnings on Schedule C...  Uber and Lift brake down SOME of their expenses.. such as fees, tolls etc.. put them on the lines that coincide with that.. BUT then it also tell you how many miles... You need to take that number of miles and multiply it by .575 to get that expense for your client.  Then any other expenses the client had for that business that are NOT reported or included on the Uber/Lift statement.

qbteachmt
Level 15

@ Geotmongar 

I think you might want to keep for reference and use Uber's resource:

https://www.hrblock.com/pdf/Partner-Facing-Guide-FAQ-Combined.pdf

 

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