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Not applicable
posted Jun 6, 2019 6:55:12 AM

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 

0 7 3858
7 Replies
Level 15
Jun 6, 2019 6:55:13 AM

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

Not applicable
Jun 6, 2019 6:55:14 AM

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

Level 15
Jun 6, 2019 6:55:16 AM

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

New Member
Jun 6, 2019 6:55:17 AM

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

Level 15
Jun 6, 2019 6:55:19 AM

On the other hand, you are getting roughly $15/hr to sit there.

New Member
Jun 6, 2019 6:55:22 AM

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

Level 15
Jun 6, 2019 6:55:23 AM

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/