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[+]DavidHogg0 points1 point1 point
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[–]DavidHogg0 points
1 point
1 point
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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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[–] DavidHogg 0 points 1 point 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.