Webmar 7, 2022 · i believe that the payment received for a blood plasma donation is taxable income.
The income would be reported as other income as follows:
Select federal from the left side menu.
Click on wages & income.
Therefore you will pay income tax, but not social security or medicare taxes on the payments.
The payments are entered as other income using the steps.
Webmar 4, 2021 · i have a tax client that gives plasma and receives payment, $2125 for 2020.
No 1099 is received to document payment.
I have heard this go both ways, and i want to make sure i do his return properly.