Holt Lake Topics: Does anyone know the tax consequences?

Holt Lake Topics

(Holt Lake Specific)

2 messages

Updated 5/13/2020 2:34:20 PM

Off-Topic

Lakes Online Forum

83,623 messages

Updated 5/13/2024 10:35:33 PM

Boat Maintenance

Lakes Online Forum

5,193 messages

Updated 4/3/2024 3:47:36 AM

Holt Lake Fishing

(Holt Lake Specific)

0 messages

Updated

Jokes

Lakes Online Forum

4,169 messages

Updated 4/15/2024 11:05:05 PM

Sports

Lakes Online Forum

4,260 messages

Updated 3/24/2024 9:24:45 AM

Grilling & Recipes

Lakes Online Forum

2,976 messages

Updated 3/20/2024 11:53:43 PM

Tallapoosa River Topics

Lakes Online Forum

98 messages

Updated 4/15/2024 1:00:58 AM

Forum Usage Rules

Welcome, Guest

Select View Mode: [ classic | beta | recent ]

	Name:	Maverick -
	Subject:	Does anyone know the tax consequences?
	Date:	7/30/2010 10:02:03 AM

Fair Market Value of winnings mutilplied by his/her effective federal and state tax rate.

Misc 1099 should be issued if the FMV is in excess of $600.

If you do not receive a 1099 from the sweepstakes sponsor, don't think that you won't have to pay your taxes. You are liable whether the sponsor sends the proper forms or not.

Other messages in this thread:

View Entire Thread

Winner for free weekend rental was..... - John C - 7/29/2010 7:26:19 PM

Winner for free weekend rental was..... - Maverick - 7/29/2010 8:23:26 PM

Does anyone know the tax consequences? - Kizma Anuice - 7/30/2010 9:00:53 AM

Does anyone know the tax consequences? - Maverick - 7/30/2010 10:02:03 AM

Does anyone know the tax consequences? - Rooster - 7/30/2010 1:55:35 PM

did i say 1,000? - John C - 8/2/2010 10:23:11 PM

did i say 1,000? - Ulysses E. McGill - 8/3/2010 4:57:27 PM

Winner for free weekend rental was..... - cgpener - 7/30/2010 1:15:47 PM

Quick Links
Holt Lake News
Holt Lake Photos
Holt Lake Videos