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arcticprism
New Member

What is the best way for me to file taxes on misc income like such as surveys, offer rebates, plasma donations etc. Can I total everything and put it on a single form?

I have income from quite a few different misc sources but I'm not sure how the best way to report the income is. Mainly, I just want to avoid making like 10 tax forms if possible.
4 Replies
Mike9241
Level 15

What is the best way for me to file taxes on misc income like such as surveys, offer rebates, plasma donations etc. Can I total everything and put it on a single form?

it really depends on whether your it's in total $100s or $1000s.  $100s i would just list as "other income" on schedule 1 line 8. $1000s I would list amounts for each major category with a description then group the smaller amounts as "other income" 

arcticprism
New Member

What is the best way for me to file taxes on misc income like such as surveys, offer rebates, plasma donations etc. Can I total everything and put it on a single form?

Plasma donations will definitely be in the thousands since I'm making about $400 /month.

 

Surveys will probably peak at $1000-1200 total for the rest of the year.  Those are like 90% from one source.

 

 

I heard that rebates aren't taxable. Would rebates include things like deposit $50 get $100 back? or buy subscription for $10 get $20 back? That will probably peak around $1000-1200 like the donations. Good short term money but not sustainable since every website has the same offers. Some of the things I've gotten money for doing (like playing a game)  aren't something I had to put in money for though so those would surely be taxable?

 

I think by the end of the year my extra income from all these sources would probably be $3000-4000

Critter-3
Level 15

What is the best way for me to file taxes on misc income like such as surveys, offer rebates, plasma donations etc. Can I total everything and put it on a single form?

Rebates are not taxable since it is just your own money coming back to you.

 

The blood and surveys are taxable and can be entered on the Sch 1 line 8 as income not subject to SE taxes however be prepared to defend this choice if the IRS sends you a notice.  You should get a 1099-misc for these incomes which will make things easier to defend.  

arcticprism
New Member

What is the best way for me to file taxes on misc income like such as surveys, offer rebates, plasma donations etc. Can I total everything and put it on a single form?

The sch 1 is a 1040 form right? What's the difference between using a 1040 and a 1099 and what kind of defense would I give to the IRS for using a 1040?

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