Uber rate cuts

  • Kathleen

    I bought a car that I use just for Uber. I have another car for personal use. How do I deduct that?

    • It would be best to use the standard mileage deduction which is about 58 cents a mile, which will decrease your taxes. miles driven for uber x 57.5 cents. The mileage on 1099 form from uber is only included the mileage when you have actual passengers in your vehicle so you might want to increase by 2-3X as much.

      • Kathleen

        Thank you. I keep track of my miles from when I turn on the app to when I turn it off. I believe the standard mileage rate has dropped to 54 cents a mile. Is that correct?

        • Yes you are correct, for 2016 it’s 54 cents… I thought you were referring about 2015 taxes and it was 57.5 cents…

          • Kathleen

            Oh, sorry for the confusion. I am referring to 2016 taxes. Do you still recommend deducting just the mileage for 2016 for me since I have a car that I drive solely for Uber?

          • UberDriver

            Yes I still recommend the mileage deduction.

          • Yes I still recommend the mileage deduction.

          • Kathleen

            Thank you very much for your time.

          • You’re welcome, any questions you have don’t hesitate to ask… Thanks for stopping by…

  • Uber Driver

    What is the tax ruling for the “set a destination” feature and deducting those miles? If I am in my way home from my full time job, set the destination for my home and go online looking for riders, is it still deductible?