So my main question is that my son is a graduate student without much income. Let's call it $2500. He also did plasma donations in the amount of $1800. I know that plasma donation payments are taxable income - but since it is greater than $400 - does he now have to play self-employment taxes on it?
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That has been debated on this site and the question is whether he does it often enough to be considered as having a business. The amount of income you posted would, I think, be considered other or miscellaneous income and could skirt the self employment tax. Others may differ.
That has been debated on this site and the question is whether he does it often enough to be considered as having a business. The amount of income you posted would, I think, be considered other or miscellaneous income and could skirt the self employment tax. Others may differ.
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