Quote:
Originally Posted by OTM Al
The seat cannot be taxable. You cannot buy in, so it has no monetary value. The $3k is the prize money contribution by the satellite contest. If that is taxed, then all taxes have already been paid on all the prize money, so no one cashing at the NHC should have to pay taxes. Does that sound remotely right to anyone? Big no right there.
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Like I said, I would check with a CPA. But you might be surprised by what the IRS considers taxable.
It starts with everything you receive.
02-10-2015, 08:38 PM
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