Do the winners of television quiz shows have to pay federal income taxes?
2007-04-27 03:03:57 · 5 answers · asked by frederick w 1 in Entertainment & Music ➔ Television
Any prize winnings over something like $300 have to be claimed for taxes as Other Income. So yes, they have to pay taxes.
2007-04-27 03:14:23 · answer #1 · answered by latech76 2 · 0⤊ 0⤋
I spoke with somebody from the my states legal professionals' Generals workplace right now approximately evening money insanity, they have been following up on a topic I submitted to them after the tutor first aired. If the tutor incredibly do make cyber web registrants one-third of the contestants, then it incredibly is criminal and not playing. My state is going to envision to work out that they do. Regardless i think of it incredibly is a huge scam and can need drastic destructive financial consequence on somebody with an addictive character. you may desire to in all probability call 50 situations a tutor (=-$50 to the participant) or greater, even 1000's of situations, and not get to respond to a query, even nonetheless their regulations website say your odds are a million:10. Bull deliver! No i don't want to hit them yet I completely have confidence they seem to be a huge time unscrupulous scam, con & fraud.
2016-10-30 10:34:14 · answer #2 · answered by ? 4 · 0⤊ 0⤋
Yes, oftentimes before they leave the studio. That's why there's a disclaimer at the end of each show saying the contestant was responsible for the money he won.
2007-04-27 05:17:11 · answer #3 · answered by Jess 7 · 0⤊ 0⤋
IN the usa yes in Canada No
2007-04-27 03:12:01 · answer #4 · answered by Grand pa 7 · 0⤊ 0⤋
Yes.
2007-04-27 03:07:53 · answer #5 · answered by Peggy Sue 5 · 0⤊ 0⤋