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squeakin00
New Member

I know for some stupid reason I have to report plasma donation on my taxes. I was compensated under $3,260 in 2016. How much do I "owe" for this income.

Not worth donating if the IRS takes most of it 

7 Replies
SweetieJean
Level 15

I know for some stupid reason I have to report plasma donation on my taxes. I was compensated under $3,260 in 2016. How much do I "owe" for this income.

The IRS never takes 100% of it. And you are doing a good thing,.
squeakin00
New Member

I know for some stupid reason I have to report plasma donation on my taxes. I was compensated under $3,260 in 2016. How much do I "owe" for this income.

The fact I have sat in that center for 208 hours last year and knowing the irs could take any of that and make me owe has a way of making it something I don't want to do anymore
SweetieJean
Level 15

I know for some stupid reason I have to report plasma donation on my taxes. I was compensated under $3,260 in 2016. How much do I "owe" for this income.

Basically, if you receive money for doing something, it is taxable.
trowabh
New Member

I know for some stupid reason I have to report plasma donation on my taxes. I was compensated under $3,260 in 2016. How much do I "owe" for this income.

yup didn't know this either, with the united states seems like even the good things do not go unpunished
xmasbaby0
Level 15

I know for some stupid reason I have to report plasma donation on my taxes. I was compensated under $3,260 in 2016. How much do I "owe" for this income.

On the other hand, you are getting roughly $15/hr to sit there.
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
trowabh
New Member

I know for some stupid reason I have to report plasma donation on my taxes. I was compensated under $3,260 in 2016. How much do I "owe" for this income.

Don't get why prostitution is illegal then because you are basically selling your body but in a different way ha
SweetieJean
Level 15

I know for some stupid reason I have to report plasma donation on my taxes. I was compensated under $3,260 in 2016. How much do I "owe" for this income.

Based on your other question, you are in the 15% Federal bracket, so you will be taxed at 15%, plus whatever your state tax rate is.

http://fairmark.com/general-taxation/reference-room/2017-tax-rate-schedules/

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