Uber 1099-k and "The IRS needs a summary statement of your investment sales." message

ejs
ejs Member Posts: 1 Newcomer
in Filing my taxes

This is the first year that Uber (Ubereats) has sent me a 1099-K. In previous years they sent me a 1099-NEC for certain small amounts (never understood why these were special cases). This year, just the 1099-K.

I entered that (1099-K) into my filing and then reported the amounts and relevant deductions on Schedule C as usual. In FINAL STEPS I got this message:

Based on the information you've entered, the following documents can be attached. Click Learn More for details about each potential attachment.
Attach Summary Statement(s) for your Investment Sales
The IRS needs a summary statement of your investment sales. You can use a Form 1099-B or brokerage statement.
Please attach summary statements for:
UBER TECHNOLOGIES, INC: Short-term


I have no idea what that means. "Investment Sales???"

"Summary Statement???"

All I did was deliver food to people.

"Learn More" is not helpful.

The IRS website is not helpful.

Trying to contact Uber is like trying to question the CIA.

What do I do?

Answers

  • kiarab
    kiarab FreeTaxUSA Agent Posts: 117

    Based on what you said, it sounds like you may have entered your 1099-K information in the Investments and Savings section in our software.

    The 1099-K form is a bit unusual. It doesn’t have a direct place to go like a W-2. Where it goes depends on what it was for. You mentioned that it was from Uber, which sounds like it was supposed to go on the Schedule C, instead of an investment.

    If that sounds right to you, in our software, you can go to Income -> Business Income (Schedule C). Click on Edit. You should see a menu titled Your Business. Under Income, you should be able to click on Edit again. After the software asks you if you had any 1099-MISC or 1099-NEC, it should ask you about other income. You will see a question asking if you had a 1099-K. You can say Yes and then enter the info in the space provided.

    After that, you can go back to the Investments screen (Income -> Investments and Savings) to delete what you entered there.

    If you are still having trouble, I would recommend contacting customer support directly as they can review your account and see what you have entered.

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