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New Member
posted Jul 15, 2021 8:33:42 PM

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.

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4 Replies
Level 15
Jul 15, 2021 8:41:41 PM

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" 

New Member
Jul 16, 2021 8:52:56 PM

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

Level 15
Jul 17, 2021 6:27:28 AM

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.  

New Member
Jul 18, 2021 7:47:48 AM

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?