Yup, just like on the game shows that you see on TV, the bigger prizes they have to pay tax on those things when they recieve them.
It has to do with the cost of what ever the prize is, not sure of what the limit is.
Quote:
Originally Posted by JF-AMD
Our govenment requires us to send the winner a 1099-B statement and the winner has to pay taxes. The threshold on this is usually ~$2500. Under that I could probably run a contest worldwide.
And your government is probably going to want to tax you as well.
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