I go regularily to a blood center and receive money from blood plasma. Do I need to pay taxes on that money?
2007-10-25 08:05:37 · 10 answers · asked by pennypincher 7 in Business & Finance ➔ Taxes ➔ United States
No, they are wrong, if they give a turkey YOU DO NOT NEED TO CLAIM NOTHING, if it exceeds I believe $50 you pay. that, is the Case of employer to employee, there is no such a thing call "gift" (besides a turkey!!!) anything more will be considered salary!!! on the blood.... i am not sure because is a donation.... but you make a living of it... so I will guess yes.
2007-10-25 08:18:36 · answer #1 · answered by :) 3 · 2⤊ 2⤋
First of all, are you donating or selling plasma? If you are selling plasma then it is reportable as income. However there is a minimum amount of money you must make before you have to pay taxes.
2016-04-10 04:58:15 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Yup! Even if they gave you a Turkey for donating Blood you would need to claim the value of the Turkey for tax purposes.
2007-10-25 08:07:59 · answer #3 · answered by ♥♥The Queen Has Spoken♥♥ 7 · 0⤊ 1⤋
Yes. The money that you get from the blood center is income.
2007-10-25 10:49:58 · answer #4 · answered by Steve 6 · 0⤊ 0⤋
Yes
2007-10-25 08:07:14 · answer #5 · answered by Anonymous · 2⤊ 0⤋
The IRS wants you to claim everything. Unless you're worried about being audited I wouldn't but you might want to consult with a tax professional before you do anything.
2007-10-25 08:10:39 · answer #6 · answered by wildeyes_heart_of_stone 3 · 0⤊ 0⤋
yes becasue they also report to the irs that they paid you for it...i am sure there is a min you would have to get to have to claim it and you prob arent reaching it...but when in doubt always ask a accountant.
2007-10-25 08:13:27 · answer #7 · answered by becca9892003 6 · 0⤊ 0⤋
Yes.
2007-10-25 08:17:31 · answer #8 · answered by Judy 7 · 1⤊ 0⤋
HA HA HA Yeah right, big brother is looking over your shoulder..............Let your conscience be your guide! I don't see how the IRS would ever know unless the blood bank sent you a 1099 form!
2007-10-25 08:10:17 · answer #9 · answered by maur911 4 · 2⤊ 2⤋
omg NO!! :)
2007-10-25 08:07:43 · answer #10 · answered by Wonder Woman 4 · 2⤊ 7⤋