What will I earn?
Turo car owners receive 75% of the trip price and additional mileage charges. If the traveler did not pay for tickets or tolls during their trip, we’ll reimburse you for those charges after receiving the necessary documentation.
You can set your own daily price and you can also set prices for individual days. Additionally, you’ll be able to create a weekly and monthly discount. Alternatively, you can choose to have Turo dynamically price your car for you. Learn more about Dynamic Pricing here.
How do I get paid?
Three days after the trip ends we’ll automatically initiate ACH payment (like direct deposit) for your share of the trip price directly to your bank account. Please allow one–three business days after then for the funds to transfer. If the trip lasts more than a week, then you’ll receive partial payments on a weekly basis: on day seven we’ll initiate the first partial payment (which you should see in your account one–three business days later), and then on day 14, etc. the process will continue.
In order to receive your earnings after each trip, you'll need to provide your bank’s routing number and your account number, which you can find on the bottom of your personal checks or deposit slips from your bank. You’ll be able to securely enter this information on your earnings page (https://turo.com/earnings). We will not have access to your bank account information, and the routing information will be stored by a Level-1 PCI-compliant third party who will facilitate the payments.
Are my earnings taxable?
As a general statement, income earned by renting your car is taxable. In previous years, we issued 1099-MISC forms to owners. Starting with the 2014 tax year, we’ve started sending 1099-K forms instead. This shouldn’t change the way you file your taxes. As always, we encourage you to consult a tax professional for assistance reporting your income. More information can be found here.
This statement is provided for information purposes only and does NOT constitute tax advice.