You'll need to sign in or create an account to connect with an expert.
Income for participating in a clinical trial or medical study is taxable. If the activity is infrequent, the income will not be self-employment income.
This means is that it is subject to income taxes, but not subject to
self-employment tax. It also will not qualify toward the
earned income tax credit or any other tax benefit that is dependent on earned
income.
If you did receive a Form 1099-MISC , it is entered under the Wages and Income tab
If you did not receive a Form 1099-MISC, you will still enter it under Wages and Income but
Income for participating in a clinical trial or medical study is taxable. If the activity is infrequent, the income will not be self-employment income.
This means is that it is subject to income taxes, but not subject to
self-employment tax. It also will not qualify toward the
earned income tax credit or any other tax benefit that is dependent on earned
income.
If you did receive a Form 1099-MISC , it is entered under the Wages and Income tab
If you did not receive a Form 1099-MISC, you will still enter it under Wages and Income but
What if the person receiving the income for the trial is 15 years old and a dependent of the parents' tax return? Can the 1099-misc be added to the parents' return or do they need to file their own?
The income would need to be reported on the child's tax return. See this link for helpful instructions. Be sure the child selects the box "Can be claimed as a dependent on some else's return."
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
devstaneart3304
New Member
jtbrockwe27
Returning Member
frankdigiu
Level 1
1kaylamwolf-gmai
New Member
achilles113
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.