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Tag Archive for Form 1099-C

Driving For Uber – The Tax Consequences

John Stancil

You have decided to take the plunge and become a driver for Uber, Lyft or some other rideshare program. Congratulations! You are now a small business owner and your tax return just got more complicated. The income you earn from Uber is taxable and must be reported on Schedule C of your 1040. However, you may deduct expenses incurred in earning this income.

In January, you should receive a Form 1099-MISC from Uber or whatever company you drive for. The amount should be Read more

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