The 1099-K is used to report payment transactions that were facilitated by a third party. 1099-Ks are issued to anyone who:
- Generated income from credit, debit, or pre-paid card transactions (in your case, that’s how passengers paid), OR
- Had over $20,000 in sales and more than 200 individual transactions through a third party processor (in your case, each individual ride you gave). Because this threshold is so high, Uber will send a 1099-K even if you didn’t reach that threshold.
The 1099-MISC (short for “Miscellaneous) is used to report direct payment of $600 or more from a company for your services. In your case, you’ll receive a 1099-MISC from Uber if you did something like:
- Referred other drivers to drive for Uber
- Received a bonus for driving a certain number of trips