The house is a prize in a charity fronted raffle.
2006-06-26 12:04:57 · 5 answers · asked by Jon M 1 in Business & Finance ➔ Renting & Real Estate
100,000
2006-06-27 10:55:49 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I would say see your Tax Attorney quickly if you are a winner . Tax Laws change, the last time I heard it is 20% of the value therefore 20% of $100,000.00 =$20,000.00 You would get to keep 80,000.00 I do not know if the charity fronted raffle would make a difference, The winnings are taxable
2006-06-26 12:19:46 · answer #2 · answered by pooterilgatto 7 · 0⤊ 0⤋
It depends on what tax bracket you are in. You need to ask a financial advisor.
2006-06-26 12:15:09 · answer #3 · answered by gardenpartygirl 2 · 0⤊ 0⤋
That would depend upon your marginal tax rate. If you were already maxed out, it would be $33,000.00
2006-06-26 13:06:27 · answer #4 · answered by Bostonian In MO 7 · 0⤊ 0⤋
it depands on the tax rate.
2006-06-26 12:09:09 · answer #5 · answered by rickinobetz 3 · 0⤊ 0⤋