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He must be mistaken, Jack; I can't imagine anyone accepting a prize with that kind of tax attached. (nt)

66.137.224.92

Audiophilander

In Reply to: RE: 50%? OUCH! (nt) posted by Jack G on January 16, 2008 at 10:14:12

(nt)

Follow Ups:

Actually, I have no idea,,, but I thought there was a stiff tax if you win anything. - oscar 13:09:35 01/16/08 (4)
At the very least, you might have to report it as income...
- There is an exemption for gifts valued less than $12,000 (nt) - racerguy 14:27:59 01/16/08 (0)
  .
- RE: Actually, I have no idea,,, but I thought there was a stiff tax if you win anything. - Jack G 13:42:03 01/16/08 (2)
  I just figured it was considered income. I don't really know, since I never win anything.
  Jack
  - Maybe it's the multimillion dollar lotteries which puts you in the 50% tax bracket. - oscar 14:05:00 01/16/08 (1)
    I've never won anything either.... well maybe a free dinner for the "privilege" (?) of listening to a Time Share resort sales pitch.
    - Yep, that's the ticket (pun intended)! ;0) - Audiophilander 11:08:39 01/17/08 (0)
      (nt)

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