Payment received for donating blood

[rcooley25]

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.

[dascpa]

$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.........

[rcooley25]

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

[sjrcpa]

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.

[dascpa]

sjrcpa - stop being logical.  Think out of the box.  Vampire is a better answer.  Or - - maybe he goes around to crime scenes, collects the blood and sells it in containers.  I'll look on Amazon or Ebay.

[TaxGuyBill]

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@dascpa wrote:

Vampire is a better answer. 

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But a vampire would be BUYING blood, not selling it.

🦇

[rcooley25]

Very true.

But in thecase of my x wife she did not buy she got it free compliments of the court.

[qbteachmt]

"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.