Reporting Earnings from Levy Fleets during Tax Season

Understanding Tax Reporting for Levy Fleet Operators

If you are operating a rental fleet using Levy Electric’s platform, you are earning revenue through our system and would need to report this income when filing your taxes. While Levy Electric processes all customer payments and distributes earnings, it is ultimately your responsibility to ensure compliance with tax regulations based on your business structure. 

What We Provide

As a Levy Fleet operator, your source of payout earnings will be in your Airtable link that's updated on a monthly basis. This is the foundation for all of our payout accounting and will also serve as the cumulative representation of all earnings from the initial start date of your fleet. These links are live and can be filtered on a yearly, monthly basis. The Partner Share column represents the total earnings that you've received and would form as the basis for reporting any income earned.

How to Report Your Income

Your tax reporting obligations depend on how you have structured your operation:

• Sole Proprietorship / Pass-Through Entity: If you are operating as an individual or sole proprietor, your rental earnings are generally reported as business income on your personal tax return. In the U.S., this would typically be included on a Schedule C (Form 1040).
• LLC or Business Entity: If you have registered an LLC, the tax treatment will vary based on your chosen tax structure (single-member LLC, S-corp, etc.). Consult a tax professional to determine the appropriate filing requirements.