TurboTax + Lyft: Reporting Your Rideshare Driver Income on Your Taxes [Webinar]
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- เผยแพร่เมื่อ 29 พ.ค. 2024
- turbotax.intuit.com/personal-... TurboTax + Lyft partnered to bring you this informative webinar on how to report your rideshare driver income and file your self-employed taxes as a Lyft driver.
TurboTax tax expert Alexis Hartford answers your questions about filing taxes as a rideshare driver, claiming self-employment tax credits, deductions for vehicle expenses and mileage, and other rideshare driver tax deductions to help save you money on your taxes!
Visit your driver dashboard for special offers on TurboTax Self-Employed products. Start today and save! lyft.com/drive/tax-information
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PLEASE DO A SAMPLE VIDEO FOR PEOPLE WHO ARE NOT A FULL TIME DRIVER, but who drives on the weekends and has a regular job. Please help everyone who has different situations
Yeah I think there are probably more part timers than full timers. I didnt get either 1099 and its confusing trying to figure this out.
Yes that would help im so confused
Tamyra Stringer Rodriguez
I agree dummyra 💪🏾
Tyler G same I’m at the point I’m just not even going to fill it out and accept the consequences. Garbage service
Mason Miller can we just report our earnings from the app?
She should have just shown step by step of how to enter the earnings summary instead of those other forms because most of us didn't get them
I didnt make enough to rcv those 2 forms. Where do i report the income i did make? It doesnt give the option. Also theres no import option.
I did not received neither of thoe two forms, the 1099k or 1099-MISC, what should I do?
I have a Tax Summary and I did not qualify for 1099s, how do I enter my earnings information when I don't receive a 1099?
Wow what a helpful information. But have a question, if you receive Annual Summary, what you will put under income type? In your example you put 1099 K which I do not have. Thanks, Massi
Sooooooo HELPFUL! Thank you. 🙏🏾💚
I always use turbo tax and turbo tax transfers all information from the past year from my computer. It also have check at the end before filling with green to red mark for any error or missing information.That is why I like turbo tax and never had any question about my filling. Your information is great because this is the first time (2019) I work ride sharing. Since I always buy turbo tax with discount, can I still import my Lyft information by using personal computer and software or should I use the one from the drivers dashboard?
Thank you. ✌🏾
I enjoyed this video and it was very helpful. I can use Turbo Tax for all my jobs correct? I'm so glad I took the time to look at it. I had new tires put on my vehicle, oil changes etc..do I send in these receipts or just put all that on the tax form
I worked as a Lyft driver for a few months. Afterwards, I started working at a hospital after I graduated from college. Would I need to file two different forms for both jobs on turbotax? Lyft is considered self-employed but the hospital job would not be. Any information or advice you could give me would is appreciated. Thank you.
Great information thank you
You didn't really show how to add the summary information into turbotax if you dont get a 1099k or Misc. How do I enter it?
Hi Daniel! If you go to 3:27 you will see a sample of the Lyft Tax Summary. Ride Payments and Non-ride earnings can be entered in 'Other Income' within TurboTax. At 10:30 you can see an example of adding in income if you didn't receive a form. Let me know if you have any other questions!
@@taxyalexis3136 i watched many times and still i don't see how to add the summary information
@@taxyalexis3136 I am confused as well. TurboTax is asking for information that is not listed on the Tax Summary. ie Federal Id #
Taxy alexis so are you saying even if you didn’t receive either form you still file it as a 1099k?
@@taxyalexis3136 Hey Taxy, at 3:27 she does show you a sample of a LYFT earning summary, but it nevers shows you how to enter "other income" that is not from the 1099s.
To those ask where to add TAX SUMMARY if you did not receive 1099K or 1099M, you will pick the second options "Other Self-Employed Income. Include 1099-K, Cash, and Checks."
I only have the Summary so do I enter the Gross earnings or do I deduct the expenses that Lyft took out and enter the new net amount?
Very helpful!
Hello,
If I did not Receive a 1099K but did get the 1099 Misc and the summary. When I go to enter the income from the summary, which would I click since it's not the 1099k or the 1099 misc it is from the summary.
Do I need to include exact pick up and drop off locations on the tax form? I can’t find mine
I have a question. I’m not self employed, so would I file my full-time job separately from my rideshare? Also, if drive for Lyft and DoorDash, could I file them all-in-one? Last but not least, I didn’t file for the year of 2018, so could I file 2018 & 2019 together?
I have no idea how taxes work at all, I have no idea how I've been doing them myself for the past 7 years. Last year was my first time driving for Uber and Lyft. But from what I gather, I think if you didn't file in 2018, you have up to 3 years to file them. Make sure you verify this though because I am definitely NOT a tax professional lol.
Hi, I drove for Lyft for only a few months and I'm trying to use TurboTax. I didn't earn enough to receive a 1099 but I still have to submit my tax information. Thank you.
This was really helpful, thanks Turbo Tax !
I purchased the Home & Business edition of Turbo Tax. What is the correct business code for Rideshare drivers? If I enter the right code, will the prompts in the software take me to the Rideshare worksheet in this edition of Turbo Tax? I also produce comedy shows, do I need to enter that as a separate business with a different business code? I have no 1099s from either Rideshare or the Comedy Business.
If I competed a 12 hour shift and I’m about 79 miles away from home, can I add those miles even though Lyft does not keep track of the mileage when you head home?
I am not able to get this discount anymore.. What is going on? 🤕I have tried talking to BOTH Turbo Tax and LYFT's support teams and no one has been helpful yet. Please contact me back ASAP!
Transcript: (not responsible for errors) Alexis Hartford at TurboTax (TT), this was not live it was Webinar, Sched C & Sole Proprietor & Independent Contractor mean same thing. You file a C, TT will be a breeze and handles more than one TNC company, most are just in the business of driving, you are in biz for yourself Schedule C, it rolls up to the already filed one. Your biggest write-off is your car we cover those weeks later.W-2 won’t get. Focus on your 2018 tax summary from Dashboard. 1099MISC is for referrals. Summary shows: qty rides, online miles. Gross earning, ride payments which are on the 1099K, non-ride is the referrals, Lyft does great job recording 6 types of expenses. The top portion today, at later day the expenses. Special offers: TT self-employed, or Live. Name, social, full time driver, mailing adrs, children, after that Personal info, put in Lyft income. Income and Expenses, Self-Employment Income, this topic click to add your Lyft income you may have last year’s info, the 1st screen is did you have any income and expenses YES, tell us about the type, in box Rideshare type, all companies will be on ONE schedule C, confirm we worked in rideshare driving, set up the business, it is side job or main source, do u have another job, say Main source, how long worked? Start 2018 or another year and you just did all along. Pay employees? No. make pmts for your rideshare like over $600 to a contractor to do work say No, less common situations: none of these apply. Let’s review, looks good, what companies did you do rideshare (we can import your tax summary info into here so select Lyft or Uber and login with your credentials) Manual import click continue, you get 1099K or 1099MISC or both. See Lyft dashboard, start 1099K info, $6700, do you have any more income? Say yes if have 1099MISC. Lyft, 1099 pair number enter, $1203 income referrals, any more self-employed income? Say yes if amazon flex or Uber. Yes or no. if No, we are done. Questions: Molly mediator what if I don’t have either MISC or K? Driver dashboard see your tax summary for 2018. How make estimated driver payments? Quarterly, pay what you think you would owe at end of year, TT calcs those. Click Deductions and Credit, get started, jump to full list, scroll down to bottom, Estimated & Other, Estimated Tax Payments, click that, Local state and Federal just click Start on one of the 6 start buttons. Mail $ or pay online. Lyft plus retirement income how report. 1040 has the income, report on same filing, Alexis: "Retirement plans" click on, show more, IRA 401K or SS or Canadian Registered click Start or Revisit. You are filing one tax return and multiple incomes. I used QuickBooks last year can I import? We easily track 2 things, yes import. TT Self employ is free if 10 trips were done in 2018. 20% deduction new tax bill explain: QBI deduction is new, yes qualify most likely depends on other incomes so go thru the questions. Door Dash? that is on C, as a rideshare driver. TT Live explain: in the free version a Lyft driver gets TT Live for half price if you get stuck along the way a CPA will look at it and wrap up your questions. In Product Help good? So not pay for tax live advice that is handy click on the help button, TT assistant, pop in your question like can I deduct my cell phone? Wait a few seconds, see some of the matches and read those. Answer Exchange is another with our employees and super users. Last question do I send in my 1099 w/ return? You just answer the questions TT fills out the forms, at end press Efile button to send that to the IRS, if any documentation is needed we say but the 1099 is not needed and likely no printer needed. IRS will also get the 1099 sent form Lyft or other companies.
Thanks, Greg. We'll add the CC closed captions shortly.
If you are in the rental program will you need to save receipts for gas purchase or can you calculate how much you spend on gas?
Hi Kenny-
Best practice is to save receipts for gas purchases. You could take a photo of them and store them electronically on your phone, app, etc... If you didn't save your receipts, your next possibility is to reconstruct using your bank statement/credit card statement- this isn't the ideal option, as there could be other gas station purchases included in the statement. It's always best to keep receipts.
If you’re self employed, doing your own taxes, will anything go into your social security?
If I did other self employed contract work (e.g. event management), should I fill out another Schedule C (as opposed to lumping all self-employed income in one form)?
Hi Jason! It depends on the 'type' of work that you do. Since Event Management is not the same type of work as Rideshare you should fill out 2 separate Schedule C's. If you drive for more than one company you can lump all of that Rideshare income onto one Schedule C.
Thanks. That’s what I thought, just wanted to confirm
Hi! If I drive only part time, but also have a W-2, which TurboTax product is the right one for me?
Hi Mary- You will need to use the Self-Employed version since you have income from driving. If you access the product from your Lyft Dashboard you will be able to prepare your taxes for free.
Does the driver dashboard have a list of tax deductions that self employed can take advantage of?
Hi Wayne! Your tax summary, which you can find on your driver dashboard, contains multiple tax deductions that you can take advantage of so make sure you are reporting those. There will also be tax deductions not reported on your tax summary such as your cell phone and any supplies you bought for passengers. We will have another webinar focused on tax deductions for Rideshare drivers on 1/22 at 10am PST. Join if you can!
and it does not give me the option to import
If I use the actual expenses method for business vehicle deductions for a new car, am I unable to take the standard deduction for a later tax year or switch back and forth? Would it be better to take the standard deduction to ensure I could switch in later years, even if I know that itemizing would get me a bigger refund this year?
Hi Erin. It is true that choosing standard mileage in the first year gives you flexibility to change methods in future years. If you choose actual in the first year you claim your vehicle deduction, then you must use that method going forward.
If you need flexibility of switching back and forth, I’d recommend you to use STANDARD at the first year of your business
I'm hearing things about how I should be doing quarterly tax (as a freelancer/self-employed) instead of doing it all at once by April. Or else I can face penalties. Is that true?
Hi there- It is true that there are penalties called 'underpayment penalties'. A tax penalty is placed on an individual for not paying enough of his or her total estimated tax and withholding. To avoid an underpayment penalty, individuals must pay either 100% of last year's tax or 90% of this year's tax, by combining estimated and withholding taxes. To avoid the underpayment penalty you can choose to make quarterly tax payments throughout the year. There are apps out there to help you figure that amount out, or if you are using TurboTax we will figure that out for you. Now- you might have another job where you are an employee- the taxes withheld MIGHT cover the self employment tax that will come out of your self employed work. There is a lot that goes into these calculations. Also- Not all underpaying taxpayers face a penalty payment, which may be waived under several scenarios which could include - a taxpayers total tax liability is less than $1,000 or the taxpayer did not owe any taxes for the previous year. That's a lot of information so if you have any additional questions let me know.
since I don’t have a 1099-K or 1099 Misc... what form on turbo tax do I use to import my information... @ -> 10:17
Hi Felipe- If you go to 8:38 you can opt to import your information. Even if you don't get a 1099K or 1099MISC we will import your tax summary information for you.
@@taxyalexis3136 she never said HOW to do this! just skipped over it altogether. This video was such a tease. So unhelpful. >:-(
I have a question, if I did not received 1099Misc or 1099k what option would I choose on the screen I I enter need to enter the income on turbo tax. the Options are 1099misc, other self-employed income including 1099k, uncommon income?
Hi Asma- at 10:15 you would choose Other self-employed income. From there you would enter in your income and description off of your tax summary that you received such as 'ride payments' or 'non-ride earnings'.
Just to confirm.. I can lump my income together from Amazon Flex, Door Dash, GrubHub etc. together with my Uber/Lyft income on one schedule C? I just wanted to confirm because I've heard from others that it's not the same 'type' of work.
The IRS requires business owners to fill out one Schedule C for each business type or professional activity they engage in. However, you can report closely related activities together on one Schedule C provided that their business activities are similar to one another and fall under the same Business Activity Code (business activity type). The IRS isn’t incredibly straightforward on what constitutes a separate business type. Unrelated activities would be separate businesses, such as a hair salon and computer repair service; or a freelance graphic designer who also drives as a rideshare driver. In this case, the designer would need to fill out two Schedule Cs: one for Rideshare income and another for design income since the work type is different and unrelated.
If you are a Rideshare driver and a delivery driver (such as Amazon delivery), you are in the business of driving. You could enter your income on one Schedule C to simplify things OR you could create two separate Schedule Cs. You could classify Amazon delivery as ‘Local delivery- 492210’ and Rideshare as ‘Other transit & ground passenger transportation - 485990’ and report the income and expenses on separate Schedule Cs. Alternatively, you could combine them on one Schedule C under ‘all other transit and ground passenger transportation - 485999’.
If you decide to prepare multiple Schedule C’s make sure you are splitting up your expenses as they apply to each business, and not duplicating them. If you are using the same car for multiple Schedule C’s you must use the same vehicle deduction method and be sure you are separating out your business/personal mileage for each Schedule C.
The forms will be available 1-31-20 What if Lyft is not your primary source of income? I also have a full time job. Will this be an issue do I need to separately file for rideshare driving? I have no idea.
@Austin Farley Thank you!
Where should i add Non-ride earnings If my non-ride earning is less than 600
Hi Alexis - if I have a W2 and several 1099's, is Self Employed right for me? Or do I need to use regular Turbo Tax?
Hi Lea- If you have several 1099's that are rolling up to a Schedule C you will need to use the Self-Employed product. If you are a rideshare driver just access the product from your Lyft Dashboard.
But I have a regular job (and I get a w2 ) - I just drive on the side. Do I still use Self EMployed?
@@leahallert3913 Hi Lea- yes it doesn't matter if driving is your full time or just a side job. Either way you will need to use the Self-Employed version as it handles the Schedule C.
Why does the download document not have the ein number you will need? Why was this done but people who never did it?
I have two jobs first job with temp agency and my second job is driving Lyft how do I report that please help each job totally different
We use a purchased TurboTax instead of the web based. Will that be a problem with the tax break?
The discount is only available for our Self-Employed product online
How do you know how much to write off for cellphone bill ?
If I drive to Boston with the Lyft app off can those miles be included as miles driven on my taxes?
Since your app is off and you are not available to passengers, unfortunately those miles are not deductible.
that's lame.
Would I be able to get Quickbooks included if I file my taxes with TurboTax Self-Employed?
Hi Daniel- Quickbooks Self-Employed is included if you are a new user for the first year with TurboTax Self-Employed. The offer will appear at the end of your tax preparation experience.
I am a new user. I signed up last year but did NOT file w Turbo Tax. It is not giving me the discount @@taxyalexis3136
If i have w2 from my employer and i drive for lyft and uber
What if you made a payment quartly, can we enter that on turbo tax and will it deduct?
Hi C C- awesome that you made quarterly payments! That makes tax time so much less painful. Yes you would enter that into Turbo Tax in the Deductions section. You can enter any payments made to the IRS along with any payments you also made to your state. It will then be applied to the appropriate return!
I did rideshare for multiple companies last year, but I've been experiencing a problem. When I put in my Uber Eats income, I get a certain refund amount, then I try to put in my income for example Door Dash, and my refund amount drops significantly. It's like the new amount I put in is actually replacing the previous amount instead of being added to it. This is ridiculous....
Do I have to do one year one time? Or depend?
Hi there- Each year would be its own separate filing. You cannot combine multiple years in one filing. Let me now if you have any questions!
is this online turbo tax version better or the software? I drive with lyft occasionally, earn W2 from my main job, and i also collect rental income, do you have a better option for me whether i should choose the turbo software or not? if yes, which version of TurboTax is the best fit for my situation?
Hi Evan- You should definitely start with the online version as Lyft gives you a great discount. The online version is just as comprehensive as the desktop software. The Self-Employed product online supports all of your income including your rental property. If at anytime you feel like you need more help during the process you can select the TurboTax Live option on the top right corner.
@@taxyalexis3136 Thanks for the reply, one more question, whats the cost of this online version charge for e-filing to both Federal and State?
@@evanis888 Hey Evan- you need to access TurboTax through your driver dashboard. The Self-Employed version is free for Lyft drivers. Let me find out about the State and get back to you!
Confirmed the state is free as well until 2/28!
Can I use the Turbo Tax discount from Lyft if I have a part-time job where I get a W-2 form and also I do Airbnb
I need help on some back taxes of yr 2014 Please help me. Trying to find help with you has become very hard !
Guys I need help! If I made only 10,000 do I have to report taxes?
Does Lyft report me on any way to the IRS
Hi there! It depends on what type of income the $10,000 is, and what your filing requirement consists of. If your income was from Lyft, then yes, that would be considered self-employment income and you would need to report the $10,000 to the IRS/and or your state. Lyft could have sent a 1099K or 1099MISC reporting the income to the IRS. That would depend on what the earnings were from.
I read that small business owners, including Lyft drivers can deduct up to $20,000 expenses for start up due to Trump Tax Cuts in 2018. Pls confirm this deduction, true of false?
You might be talking about the new qualified business income deduction. Tax Cuts and Jobs Act of 2017 introduced a new deduction for Qualified Business Income (QBI). An individual generally may deduct 20% of QBI income from a partnership, Scorp or sole proprietorship. As a rideshare driver you will most likely qualify, depending on your other income sources. Don't worry, Turbotax will calculate this for you.
Will this webinar be available to watch afterwards? I can only stay for 10 mins...
Hi Erin- Yes this webinar will be available throughout the season! We will be checking in periodically and answering any questions that pop up.
yes
@@taxyalexis3136 WHERE do you answer the questions? There are several here that have gone unanswered -- MANY have the same questions which you've ignored.
Is the mileage inbetween rides deductible?
Hi Keith! Is your app on? Are you actively looking for a ride? Are you not driving around running personal errands? It all depends. If your app is on and you are looking for rides- YES that mileage is deductible! Make sure you are keeping records.
Do you need to pay social security tax if retired and collecting social security
Hi Paul- yes you will still be responsible for Social Security Taxes even if you are retired.
If I do not have a 1099k what do I type in as type of income
Hi boss melo- at 11:-00 you can type in your income that was reported on your Tax Summary. Just type in 'ride payments' or 'non-ride earnings', whatever the description is on the Tax Summary
I think I'm going to owe money since it's my first year being self-employed. Can I file now and pay later?
You can absolutely file now and wait to pay until April 15.
IRS also has installment options if you're unable to pay in full by April 15th. www.irs.gov/payments/payment-plans-installment-agreements
turbo TaaAs a Gold driver is there any cost for filing with Turbo Tax?
Hi Keith- Are you a Gold Driver with Lyft? As a rideshare driver with Lyft- if you access TurboTax from your Lyft Dashboard you will be able to access TurboTax Self-Employed for free!
I'm a Gold Driver - Turbo Tax charged me $119 @@taxyalexis3136
Yesssss
I didn't get a1099k only a misc and a summary. Do I need to report my expenses on my tax return?
You don't get a 1099 if u made less then 20K with ride-sharing.
You can write off the mileage that's at the top of the Lyft form
It's 0.58 cents per mile
At 10:14 what do we drivers select who didnt receive neither forms?
You can include all of your income under Other self-employed income. Let me know if you have nay additional questions.
@@taxyalexis3136 thanks
@@taxyalexis3136 if you choose that option, then what do you type in the first box on the very next page? 'Type of Income' (cash/check/1099-K) -- our payments come in via lyft, direct deposit--?
If I don't have a 1099-K, what do I put in the "Type of income" field? Cash? Checks? Or something else?
Hi there- just type in whatever is on your tax summary next to the income that is reported. For example 'ride payments' or 'non-ride earnings'.
Sweet girl she is so honest with her body language
You can tell that she is nervous
I give a props for following through 😎
I don't see the get special offers section on my dashboard
They remove it
Is it allowed to include insurance deductibles as an expense?
yes, you can take the portion of your auto insurance that is required as a rideshare driver.
To be sure I understand, does that include any deductibles paid on auto insurance claims for the vehicle used for rideshare?
@@orlando5786 when you say claims, do you mean an accident while using your personal car or rental car?
@@mollytaxes7717 Exactly. Or are only insurance premiums allowed to be deducted?
Do I file my regular job using a W-2 separately from rideshare self employment
L White good question
Why is amazon delivery categorized as ride-share? It’s not ridesharing.
The IRS requires business owners to fill out one Schedule C for each business type or professional activity they engage in. However, you can report closely related activities together on one Schedule C provided that their business activities are similar to one another and fall under the same Business Activity Code (business activity type). The IRS isn’t incredibly straightforward on what constitutes a separate business type. Unrelated activities would be separate businesses, such as a hair salon and computer repair service; or a freelance graphic designer who also drives as a rideshare driver. In this case, the designer would need to fill out two Schedule Cs: one for Rideshare income and another for design income since the work type is different and unrelated.
If you are a Rideshare driver and a delivery driver (such as Amazon delivery), you are in the business of driving. You could enter your income on one Schedule C to simplify things OR you could create two separate Schedule Cs. You could classify Amazon delivery as ‘Local delivery- 492210’ and Rideshare as ‘Other transit & ground passenger transportation - 485990’ and report the income and expenses on separate Schedule Cs. Alternatively, you could combine them on one Schedule C under ‘all other transit and ground passenger transportation - 485999’.
If you decide to prepare multiple Schedule C’s make sure you are splitting up your expenses as they apply to each business, and not duplicating them. If you are using the same car for multiple Schedule C’s you must use the same vehicle deduction method and be sure you are separating out your business/personal mileage for each Schedule C.
I didn't get a 1099MISC or 1099K but still asks for an EIN number, how do get that?
Hi Daniela- If you didn't get a 1099MISC or 1099K just enter your income in the Other Income section. You can see how to do that at 10:13.
It was not clear what income amounts are reported for 1099-K vs 1099-misc income. Under gross earnings there are the 2 lines: ride & non-ride. Is the 1099-K self-employment income the ride amounts only? My 1099-misc income matches the income amount listed as non-ride.
*under the gross earnings from the earnings summary
Did not receive a 1099-K
Did receive a 1099-misc
I would rather be a prisoner of war than watch a Turbotax commercial.
While your examples sound okay, I think you should have shown us where to get this info from the Lyft forms. Use examples with more specifics where to find the amounts to enter for earnings.
She did show it
How do you get an EIN #
Hi Miriam- the EIN should be reported on your 1099MISC. If you did not receive a 1099MISC then just enter that income under Other Income. You can see how in the video at 10:13. Let me know if you have any additional questions!
@@taxyalexis3136 And for those who only received a "Summary?" Where is The EIN on that????
@@TheDJMessenger there is no EIN to report. Just include your income from your summary under Other Income at 10:13 which will not ask for an EIN input.
I do NOT have 1099 forms. I made a gross total of less than $800, and have no idea how to report that when filing my taxes. I checked both time stamps where you mention NOT having a 1099 form, and you literally say, "it's ok" then proceed to give an example WHICH INCLUDES 1099 FORMS.
I am still JUST AS CONFUSED as when I started this video. Please provide information on how to file WITHOUT 1099 forms.
I have made this comment as STRAIGHT FORWARD as possible, since you weren't able to understand the existing problem as mentioned by COUNTLESS comments prior to mine.
I appreciate the info but this was not a webinar. This was an instructional video that you released at a certain time of day. There was no live interaction. I could've watched it at any point after the time you uploaded it which would've served me to know so I could've been driving instead.
Sorry but we are live right now, taking questions.
What are the differences that exist in reporting 2018 taxes for express drive program drivers versus drivers using their personal car?
Hey Orlando, great question! Our next webinar on 1/22, 10 AM PST will address all the deductions including these rental car programs. When you use the Express Drive program you can only deduct the business portion of your gas (from your personal records) and rental fee (located on the tax summary). For your own personal vehicle you can either take the business portion of your vehicle expenses (such as gas, car insurance, repairs, oil changes, etc.) or standard mileage of 54.5 cents per business mile.
Thank you! I look forward to learning more specifics about how driving through the rental program impacts tax reporting.
1099K total from Lyft is more than the total I received in my account. Why?
if you don't have these forms don't worry, you don't need them you can use the payment summary. I will not be telling you how though.
Good to know you figured it out, but that doesn't really help. After you put in your info for rideshare, it gets confusing if you didn't get the forms.
Then what’s the point of saying anything? Don’t be a dumbass.
I have watched the more then. 10 times and it doesn't help me with doing it with a year statement. No where in there in the step it show you how to put that in.
What if i had an Rental?
Hi there- If you had a rental you will be able to take the rental expenses (which if you went through Lyft would be on your tax summary) and any gas you purchased for your rental (business use portion). You won't be able to write off the mileage for your rental as you did not own the car. You will enter the expenses in the equipment rental portion of the deductions section within the self-employed topic!
TurboTax said i will nit get an refund
I write my miles down in a notebook every time I drive is that acceptable?
Hi Carmen! The IRS will accept all forms of documentation whether hand written or electronic- as long as it is complete and accurate. Lyft does track your online miles when you have passengers in the car and also when you are driving around looking for passengers. Just make sure that your records align with what the company is reporting and if you are driving for multiple companies make sure you are not 'double dipping'. You might want to explore an app that tracks your miles- as it might be easier for you instead of writing them down!
This isn't helpful anymore, because the link after clicking on "Get Special Offers" in the the "Tax Information" section, it basically just 404's now, which makes the rest of the video useless.
Don't you just love how this is the video that's suggested on the page called 'How do I import my tax information from Lyft?' (placed right ON the page even, after a brief intro!) --and then it proceeds to tell you how to do all sorts of things EXCEPT for *importing* your tax info? [From the Lyft Tax Summary] They decide to 'skip that' for now. 🙄 How fantastically UNhelpful. 🤨 😒 How 'bout making a video about THAT very thing? Importing our tax info directly, rather than writing it in, since that's the super-special benefit we're supposed to get, in Turbotax when coming from Lyft? Where's *that* video?
she didnt add the nec
if i had money id file my taxes.....but i dont so..
Quisiera que hicieran un video en español
Marielly Roman la neta que si
We are not Independent contractors. Lyft just doesn't want to assume the costs of gas, wear and tear and insurance.... I hate liars. This is why you are being sued. You can deactivate my account as you want... I can't advertise, and I can't schedule my day with my regular clients. You also allow for passengers to discriminate. There is no white privilege with me ... You are taking advantage of those who are working full time. Good hustle game.
True
True cant wait to finish my taxes and be done with thie 💩 company
Is it me or does anybody else feel that this woman is kind of hiding information of the not saying whole information that she should have
Turbo Tax Self Employed NOT FREE!!! and I have it on Accelerate rewards... LIE
Free Trial. Still damn good for what it costs. Enjoy your tax brakes!
Are you single?
not helpful for canadians.
🤔 is amazon delivery a rideshare driving as she claimed ?? Does she know what’s she talking about .., then She talks a lot about tax summary form but never said a word how to enter it into TurboTax ... 👎👎 a lot of nonsense and useless boring info
Hi Alexis - if I have a W2 and several 1099's, is Self Employed right for me? Or do I need to use regular Turbo Tax?
Hi Lea- If you have several 1099's that are rolling up to a Schedule C you will need to use the Self-Employed product. If you are a rideshare driver just access the product from your Lyft Dashboard.