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[–] 17678588? 0 points 2 points (+2|-0) ago 

More like, no fucking way I pay the taxes on the trip value and then still have to go there.

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[–] Rotteuxx 0 points 1 point (+1|-0) ago 

Isn't that how they keep the show cheap ? Winners have to pay the taxes upfront so a lot of them forfeit the big prizes ?

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[–] DavidHogg 0 points 1 point (+1|-0) ago  (edited ago)

They have to pay the taxes on the winnings. I went to school with a kid that won a car on that show. He went for his 18th birthday. He traded it in on a used z28 and used the leftover money to pay the taxes. They didn’t have to pay taxes upfront. You get a 1099 at tax time.

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[–] 17686947? ago 

IRS rules would allow them to pay the taxes also, but that means they would have to pay out money and that ain't happening (and also pay taxes on the taxes). These prizes are given to them by companies for free in exchange for "promotional consideration", basically meaning they give them the prize to give away in exchange for the host describing it like it is a commercial for the item. It really is a neat racket that they treat it as if they never owned the item and so they don't have to claim anything on it for expenses or income.