has i was reading the rules n regulation it said something about taxes for prize winners what does that mean do i have 2 pay 4 the prize if i win i dont get here the websitehttp://www.gamezone.com/winfree/ContestRules.htm
2006-08-07 04:02:56 · 6 answers · asked by quiet one 1 in Computers & Internet ➔ Internet
If you receive a prize you must include it on your tax return as other income. For cash prizes you will include the amount of cash received. For merchandise the amount will be the fair market value of the prize.
2006-08-07 04:21:37 · answer #1 · answered by littlestory 3 · 0⤊ 0⤋
I think it depends on the value of the prize and if you work or not. If you earn more than less than I believe $6,000.00 a year, than you don't have to pay taxes. But I'm not sure what the minimum annual income is, so you should check with an accountant or call someone like H & R Block or any of those companies that does your income taxes for you.
2006-08-07 04:09:05 · answer #2 · answered by sxyredht21 3 · 0⤊ 0⤋
They always tell you that you won! when they ask for the money it is just a scam. You send the money then never hear from them again. I was sent a letter saying I had won a Million dollars from Publishers Clearing House: theyasked for $4.95 shipping fee. Before I was going to send the money I decided to call P.C.H.! When I called and gave my info. P.C.H. told me that it wasn't even them who sent it. They have no clue of where or what I had received.
2006-08-07 04:19:51 · answer #3 · answered by Bethany B 2 · 0⤊ 0⤋
Everything you win, you have to pay taxes for. Nothing is free.
2006-08-07 04:07:54 · answer #4 · answered by J13891 4 · 0⤊ 0⤋
It's a scam. Nothing is free.
Stop being a rube, and delete this crap when you get it in your e-mail.
2006-08-07 04:07:30 · answer #5 · answered by Anonymous · 0⤊ 0⤋
don't believeit, i've received tons of emails like that. they're all fake
2006-08-07 04:18:49 · answer #6 · answered by Bilal Hares 3 · 0⤊ 0⤋