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Discussion Starter · #1 ·
OK, so I started doing my taxes for 2016. I started driving Uber on Jan 15, so I am just shy of a full year of earnings.
I kept a spreadsheet of my earnings, miles and hours so I know how much I worked and got paid.
According to my 1099-K, I earned about $29,300 in fares, and according to my 1099-misc, I earned almost $2,200 in incentives, for a total take of about 31.5K.
According to my spreadsheet, I was paid $20,508 by Uber. The discrepancy is that my "Payout" did not include:
  • Tolls
  • Split Fares
  • Safe Rides Fees
  • Airport Fees
  • City Fees
  • Booking Fees
  • Uber Service Fees
When I did my tax form and claimed all the deductions I was entitled to, my taxable earnings from driving Uber were approximately $7,500.

So according to Uber, I earned $28/hr
According to what I was actually paid, I earned $18.25/hr
According to Uncle Sam, I earned $6.61/hr
 

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OK, so I started doing my taxes for 2016. I started driving Uber on Jan 15, so I am just shy of a full year of earnings.
I kept a spreadsheet of my earnings, miles and hours so I know how much I worked and got paid.
According to my 1099-K, I earned about $29,300 in fares, and according to my 1099-misc, I earned almost $2,200 in incentives, for a total take of about 31.5K.
According to my spreadsheet, I was paid $20,508 by Uber. The discrepancy is that my "Payout" did not include:
  • Tolls
  • Split Fares
  • Safe Rides Fees
  • Airport Fees
  • City Fees
  • Booking Fees
  • Uber Service Fees
When I did my tax form and claimed all the deductions I was entitled to, my taxable earnings from driving Uber were approximately $7,500.

So according to Uber, I earned $28/hr
According to what I was actually paid, I earned $18.25/hr
According to Uncle Sam, I earned $6.61/hr
Thanks for sharing your reality. Looks like average earnings for an Uber driver in the Chicago market last year. Bottom line reality is probably somewhere in the low-teens after your expenses. And this is 2016 when there were some decent incentives being provided by Uber most of the year until the fourth quarter when they dried up.
 

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Premium Member
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Discussion Starter · #4 ·
So, according to you, how do you feel about these results?
How do I feel? I feel like there are several different realities in these figures.
I am glad that my tax burden is low, but my "earnings" are nowhere close to where I would like them to be.
 

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973 Posts
It's very simple we are all little people to government, so you either do it the hard way or easy way, itemized, or mileage and I bet you you put more miles on than you actually spent. Also it's ok to inflate numbers when it come to miles. Don't be scared just think about it the government is not going to go after someone making 30 K
 

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How do I feel? I feel like there are several different realities in these figures.
I am glad that my tax burden is low, but my "earnings" are nowhere close to where I would like them to be.
Not to be all Zen on you, but the only "reality" is the one you are actually experiencing. It's a simple yes or no question. Are you satisfied with this result?
 
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