Expert play: bookkeeping, mileage, and tax deductions for FairCar hosts
FairCar files a 1099-K when you hit the federal threshold. Here's how to keep books that turn your earnings into deductible income.
What FairCar reports
Stripe issues a 1099-K to you and the IRS for any host who exceeds the federal threshold ($600 of gross payouts in a calendar year, as of 2026). The 1099 reflects gross trip earnings before your subscription is deducted.
Download a yearly export from Dashboard → Earnings → Tax documents in January. It includes every trip, every pass-through charge, every refund, and every subscription line item.
Deductions most hosts miss
Mileage on the host's side: driving to deliver the car, to refuel, to a partner garage, or home from drop-off is all deductible at the IRS standard mileage rate. Log it in any mileage app (MileIQ, Stride).
The FairCar monthly subscription is 100% deductible as a platform fee. So are your commercial insurance premiums, cleaning supplies, professional photos for your listing, and the share of vehicle depreciation attributable to rental use.
If the car is rented more than 50% of the year, you can elect bonus depreciation in year one — talk to a CPA before filing, the math is non-trivial.
Keep a clean monthly close
First Monday of every month: export the prior month's payout statement, the prior month's pass-through charges, and a screenshot of your odometer. Drop them in a dated folder.
If you're a fleet, add a column for which vehicle generated the revenue. Per-vehicle P&L is how you decide which car to sell and which to clone.
Sign in and message the FairCar admin team from your in-app Messages — a real person replies within one business day. We don't outsource support.