Sometimes new drivers don’t get the heads-up that their mileage is deductible. In This Article Your filing taxes and just realized you forgot to track your mileageįirst of all, don’t panic! Many drivers have faced the same situation of not completely tracking their business miles or simply not knowing what to track. This post was written by Stride’s Tade Anzalone, who heads up their tax and finance support and is an Enrolled Agent with the IRS. Uber and Lyft typically send out 1099s by January 31st, so hopefully you’ve been tracking all of your mileage! But if not, we’ve teamed up with Stride Tax for a guest post to help you figure out how you can still claim all those lost miles. Not only can they ensure they're getting the largest deduction they're entitled to, they can also write off the cost of MileIQ because it's a business expense.Harry here. That's why many savvy Uber drivers rely on mileage-tracking apps like MileIQ to create automatic mileage logs for them. This report doesn't capture the drives between pickups and these are deductible.

I know what you're thinking: Doesn't Uber provide me this? Uber does provide a log of trips but it only includes trips with passengers. How Do I Keep Track of Mileage for Tax Purposes? The IRS also wants to know your commuting miles and non-commuting personal miles. You'll also need to record the starting odometer reading of your vehicle for the year. This is commonly called a mileage log template. When you take the mileage deduction, the IRS wants a contemporaneous record of your drives. Remember, the more deductions you have, the lower your taxable income is and you'll have to pay less in taxes. At the end of the year, that can lead to a deduction worth thousands of dollars. While 53.5 cents may not seem like a lot, it can quickly add up. All of those miles are considered business miles when you drive for Uber. The IRS lets you deduct 53.5 cents per business mile for 2017. This can include valuable things like the mileage deduction. But, being self-employed also means you can write off many costs that W2 workers can't.

It's also your responsibility to pay your own Self-Employment Tax. That means Uber doesn't withhold taxes for you. You're classified as a self-employed worker when you drive for Uber. Here's what you need to know about an Uber mileage log or how to claim mileage as an Uber driver. But, don't get bit during tax time by forgetting to claim your miles. Driving for Uber can be a good way to earn money.

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