new city bonuses, mentoring, referral fees) A 1099-NEC (1099-MISC in prior years) if you received more than $600 in non-driving income (e.g.This is the IRS requirement, however, you are likely to receive the 1099-K even if you have fewer transactions with less gross receipts. A 1099-K if you generated more than 200 transactions and more than $20,000 in gross ride receipts from passengers in the last year. Here are the forms you are likely to receive and the IRS requirements for issuing them: Instead, you’ll probably receive one or more 1099s, depending on how much you earned from certain services. Since you are in business for yourself and not an employee of Lyft, you will not receive a W-2 wage and tax statement from the ridesharing company.
0 Comments
Leave a Reply. |