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medical research study income

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jaslady

Junior Member
Is income received from participating in a medical research study taxable (on my federal tax return)? I live in Texas. Thanks, Jaslady.
 


Litigation!

Senior Member
jaslady said:
Is income received from participating in a medical research study taxable (on my federal tax return)? I live in Texas. Thanks, Jaslady.

My response:

Yes. Why would you think otherwise?

By the way, how does it feel knowing that you were a Guinea Pig for the rest of us?

IAAL
 

jaslady

Junior Member
medical research studies

Because the payment is presented as compensation for travel expenses to and from the research facility and not income per se. I was hoping it might be akin to insurance payments, etc.

It feels good to contribute to the betterment of the health of our society.
 

Litigation!

Senior Member
jaslady said:
Because the payment is presented as compensation for travel expenses to and from the research facility and not income per se. I was hoping it might be akin to insurance payments, etc.

It feels good to contribute to the betterment of the health of our society.

My response:

There is a difference between "income" and "reimbursement." Now, how about giving us the facts so that we can give you a better answer?

IAAL
 

jaslady

Junior Member
income vs reimbursement

Sorry about the ambiguity, but if the research companies used 'tax' language in their agreements & literature, there would be no need for this question.

From some companies, I have received a W-2. From others - nothing. Is that my indicator?
 

LdiJ

Senior Member
jaslady said:
Sorry about the ambiguity, but if the research companies used 'tax' language in their agreements & literature, there would be no need for this question.

From some companies, I have received a W-2. From others - nothing. Is that my indicator?
Any monies that truly were reimbursed travel expenses are not taxable. However, any income in excess of expenses IS taxable, whether you got a W2 or 1099, or recieved nothing.
 

ceara19

Senior Member
jaslady said:
Sorry about the ambiguity, but if the research companies used 'tax' language in their agreements & literature, there would be no need for this question.

From some companies, I have received a W-2. From others - nothing. Is that my indicator?

SOME? Exactly how many medical research studies are you involved in? I'm pretty sure you are not allowed to be in multiple studies concurrently.
 

jaslady

Junior Member
medical research studies

You are right, not at the same time. I am looking at income received in 2005 from multiple, short-term studies.

Have you ever looked into participating in a study? Some are long-term (6-12mos), but most are much shorter, such as determining if a new pain med is effective against dental pain. For a study like this, you must already require dental work (like wisdom tooth extraction). You have your tooth removed for free and you receive a small stipend to cover transportation costs - like $50. IF the med does NOT work for you, you get additional compensation (maybe as much as $250). This is an example of a 1 day study.

Most studies involving healthy people only run 2-4wks and require multiple office visits, some require overnight stays. Therefore, it is possible to do several studies over the course of a year. It is a popular source of income for students ;)
 

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