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January 6, 2025
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Gift voucher for donating blood reportable? + What year to report?

  • January 6, 2025
  • 1 reply
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I got a 5,000 KRW ($3~$4 USD) gift voucher for donating blood in 2024. I received the actual paper card in 2024 which has a QR code to redeem for either a Starbucks drink or 5,000 KRW voucher for a convenience store. 

1. Do I report this as "other income"? 

2. I received the actual paper voucher in 2024 when I donated blood but just electronically redeemed it today in 2025 for the actual usable gift voucher (because I stupidly forgot to do so before the year ended). Do I still report it in 2024 since I received the paper voucher then (even though I didn't redeem it for the actual usable gift voucher by choosing between Starbucks/convenience store and getting the electronic voucher issued with a barcode for the convenience store until today?)

Best answer by Opus 17

Yes, it is taxable miscellaneous income.

 

It is 2024 income because you received the income in a useable format in 2024, even though you chose to redeem it later.  

1 reply

Opus 17Answer
Employee
January 6, 2025

Yes, it is taxable miscellaneous income.

 

It is 2024 income because you received the income in a useable format in 2024, even though you chose to redeem it later.