Sunday, December 18, 2011

IRS tax question on egg donation?

Since you are selling your eggs, you would pay ordinary income taxes on the money you receive. You will not be filing a 1099, you will be receiving a 1099-MISC. You will be paying the percentage for the tax bracket that you fall into, which could be anywhere from 10% to 35% to the IRS. You will also have to pay income tax to your state and possibly your city.

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