Anybody drive for Uber? Got a ? 4 U

Please feel welcome to join in on these informative ongoing discussions about trading futures and commodities.

The Trading Forum is intended for the open discussion of commodities trading. The management of this Forum does not agree or disagree with the ideas exchanged, and does not exert editorial control over the message posted herein. Read and post at your own risk. The risk of loss in trading or commodities can be substantial. We discourage the use of this Forum to promote trading that is acknowledged to be risky. Please note: many links from the Forum lead to pages on other web sites. We cannot take responsibility for nor endorse the information presented on those sites.

Forum Policy

Return to Index Read Responses

TFC Commodity Trading Forum

I don't know anything but here's what I'm wondering....

Let's say Uber charges riders 1.25 per mile. Then, Uber takes .25 as its take leaving the driver $1.00 a mile. Let's say the ride is to the customer's home which is 10 miles from the bar, restaurant, etc.....So, the driver gets $10.00 net.....but, he has to return to the bars to get more rides so his miles driven are 20. IRS allows over .50 per mile as deductible so doesn't driving for Uber result in no income or perhaps even a loss???

Just curious.

The driver may not have the expenses at the moment but when he sells his ultra high miles vehicle he's going to realize he took an aftertax asset and tried to monetize it into taxable income.

Am I seeing this right?

Messages In This Thread

Anybody drive for Uber? Got a ? 4 U

Re: Anybody drive for Uber? Got a ? 4 U

Forum Policy

Return to Index Read Responses