Paying Taxes on Prize Winnings
One of the biggest drawbacks to winning big prizes is paying big taxes. Learn about sweepstakes taxes and how to avoid overpaying them.
:max_bytes(150000):strip_icc()/HGTVDreamHome2005-5969f9b33df78c57f4a48ddb.jpeg)
How to File Taxes on Sweepstakes Prizes in the United States
:max_bytes(150000):strip_icc()/new-car-with-dollar-price-tag-on-colored-background-599542677-573e1ce95f9b58723d7b8600.jpg)
Won a New Car? Worried about the Taxes? Here's How to Afford Them
-
Do You Win Prizes? Here's How to Track Them for Taxes -
Handy Information for Winners About 1099-MISC Forms
-
Inflated Prize Value? How to Dispute an ARV on Your Taxes
-
ARV Too High? Here's What to Do About Overpriced Prizes
-
Do You Need to Pay Taxes on Sweepstakes Prizes Less Than $600?
-
4 Ways to Increase Your Cash Flow with Contests
:max_bytes(150000):strip_icc()/Spreadsheet-by-Image-Source-GettyImages-71916142-5a20103a89eacc003725781b.jpg)
:max_bytes(150000):strip_icc()/calculator-and-tax-forms-88305470-586189eb3df78ce2c3e1b1ee.jpg)
:max_bytes(150000):strip_icc()/IRS-by-Ken-Reid-GettyImages-88305470-5b89682ac9e77c0025de6cfb.jpg)
:max_bytes(150000):strip_icc()/massive-bill-155146987-57ba7d025f9b58cdfd4e5b10.jpg)
:max_bytes(150000):strip_icc()/TaxesAA035940-56a1c1c85f9b58b7d0c25161.jpg)
:max_bytes(150000):strip_icc()/Woman-holding-money-by-Leo-Kowal-172947036-56a1c2ce3df78cf7726db35b.jpg)