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4 Answers

How much money should I set aside for taxes from a $5000 check?

Asked by: jmlcpl 372 views YA Discussion

I’m donating my eggs and I will receive a $ 5000 check after the procedure. I heard this is considered taxable income and I was wondering how much I should plan to set aside for taxes and how much I will be left with. I live in Utah and I’m a college student working part time so I don’t make a lot of money. I also will be getting married this year which means it’ll be before I file my taxes.

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4 Answers



  1. Rick M on Sep 08, 2012 Reply

    15%.

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  2. Ernest on Sep 09, 2012 Reply

    20%

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  3. chatsplas on Sep 09, 2012 Reply

    Depends on other income of you and spouse-to-be. Set aside 25% and you’ll be fine. There is FIT, SIT, SS, Medicare to be paid.

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  4. tro on Sep 09, 2012 Reply

    this is not your self employment
    if you marry during the year this $ 5000 will merely add to your combined incomes to determine what is taxable

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