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?

Forum|Forum|5 years ago
April 13, 2021
7 replies
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ProSeries Basic

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Best answer by Just-Lisa-Now-

Sch C gross earnings, then deduct his expenses

Just-Lisa-Now-

Answer

Intuit Community Champion

Sch C gross earnings, then deduct his expenses

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IRonMaN

Level 15

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

Slava Ukraini!

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.

The more I know the more I don’t know.

shf1957

Level 6

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.