Taxes: How to file and save as a Lyft driver
A central place for you to find your 2020 tax information, learn how to maximize your savings, and access other useful information.
Free TurboTax Self-Employed or 50% savings on TurboTax Live Self-Employed, which includes unlimited advice from real tax experts. Depending on your Lyft Rewards tier, you may be eligible for additional savings.
IRS Free File
This is a free service provided by the government for individuals who qualify (there are income limitations). We recommend consulting a tax advisor to help you choose the best way to file.
Your Annual Summary doc
All drivers receive an annual summary. It includes a breakdown of the number of rides you’ve given, your gross earnings from rides, non-ride earnings (like bonuses), tolls, and mileage info. Learn more.
The 1099-K form
Drivers who earned at least $20k and had 200 total transactions (for ride receipts) from passengers in the past year. Even if you don’t receive the 1099-K, you’ll likely still have to file taxes. Learn more.
The 1099-NEC form
Drivers who earned at least $600 from non-driving activities (like referral bonuses, incentives, mentoring) in the past year. Even if you don’t receive the 1099-NEC, you’ll likely still have to file taxes. Learn more.
Master your taxes
Learn how to file like a pro — hear from Lyft drivers and our partners at Everlance. You’ll learn what it means to file as an independent contractor, whether the “standard mileage” or “actual vehicle expenses” deduction is better for you, and which other deductions you may be eligible for.
Everlance: Tax Academy for Lyft. Learn how to kick taxes in the butt. See tutorial.
TurboTax: Tax Tips for Lyft Drivers: Ridesharing Taxes. Read article.
The Rideshare Guy: Ultimate Tax Guide for Uber & Lyft Drivers. Read article.
IRS Gig Work: Manage your taxes for gig work. Read article.
EITC Outreach: Tax Deductions for Rideshare (Uber and Lyft) Drivers. Read article.
How do you prep for tax season as a driver?
I ensure that I use a third-party app to track all mileage expenses and income. As a former licensed tax professional, I ensure that all of my documentation is in order to give me the peace of mind in the event of an IRS audit.
-Tom, driver in Sioux Falls, SD
What are the top deductions you claim as a driver?
Everything-phone, gas, auto costs such as maintenance and insurance.
-Kelly, driver in Boston MA
What resources or apps help you maximize deductions?
I am old school and use excel spreadsheets for keeping most of my records.
-Billy, driver in Minneapolis, MN
Do you use ‘standard mileage’ or ‘actual expense’ method?
It depends, but generally standard mileage deduction works best.
-Donnie, driver in Boston, MA
What's the best tax tip you've received as a driver?
I believe that understanding the depreciation that happens in a vehicle used for Rideshare is an important part of the deduction process. Many drivers fail to record the depreciation rate while submitting their tax returns.
-Tom, driver in Sioux Falls, SD
What do you wish you knew as a new rideshare driver?
I wish I knew that when filing as an independent contractor that all the information that you keep track of can help you when your trying to receive a refund instead having to owe the government money.
-Sicilian, driver in San Bernardino, CA
Anything else you want to share to help other drivers prepare?
Save their receipts (gas, maintenance, purchases that involve driving for lyft like food or bottled water for customers) and be sure to make the appropriate deductions.
-William, driver in Houston, TX
Frequently Asked Questions
When and where can I view my tax information and documents?
Will I get an Annual Summary or a 1099?
What if my tax statement amount doesn’t match my direct deposit amount?
What are common tax deductions I can claim as a Lyft driver?
Do I need to track my miles as a Lyft driver?
Should I use the ‘standard mileage’ or ‘actual expense’ method to calculate my vehicle-related deductions?
What if I drive for more than one ridesharing platform?
What if I drive multiple cars with Lyft?
Where can I get additional tax advice or support?
Do I need to pay taxes on income I earn from driving?
What’s a B Notice and why did I receive one?
*Lyft does not provide tax advice. We recommend that you consult with an independent tax professional for any tax related questions.