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Tax law changes
Hi,
So the threshold for requirement of a 1099 is $600 or more in annual income. So if the income is $600 or more throughout the year, you are required to report it as taxable income.
If the plasma donation center does not provide a 1099, I suggest keeping track of your donations in an excel file or log. It is possible your plasma donation center may have records of your donations throughout the year, so I suggest contacting the donations center.
In addition, you may have bank deposits or checks you deposited that may provide you a record of those.
Thank you,
John
CPA
‎June 28, 2023
11:24 AM