Payment received for donating blood

Forum|Forum|4 years ago
February 21, 2022
7 replies
25 views

I have a dum question to ask.

I have a client who says he has received $4000.00 in 2021 for donating blood and there har not been any form issued.

So how do you show this on the tax return.

I thought of contacting my ex wife since she got all of mine but she is dead now.

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This topic has been closed for replies.

dascpa

Level 11

$4,000? Obviously your client is a vampire who has a Schedule C for being in the business of collecting blood. The question is - is this a Sec. 199A QBI activity?

On a side note what is the cost of your own blood. If it's the sale of personal property not at a gain then I would think it's ignored? Curious to hear other answers.

And next we'll hear about donating sperm and more.........

R

rcooley25Author

Level 7

To come to think about it He does have funnl looking teeth.

sjrcpa

Level 15

Either he has a rare blood type or this is for plasma.

Apparently getting paid for plasma is big business in some parts of the country.

The more I know the more I don’t know.

qbteachmt

Level 15

"and there har not been any form issued."

They are typically paid on a refillable debit card, so that would fall under 1099-K rules. They would have provided their SSN to the blood/plasma bank.

@TaxGuyBill has argued this point with the TurboTax crowd. Let's see if he'll update this.

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