Reply To: Seminary raffle

Home Forums Decaffeinated Coffee Seminary raffle Reply To: Seminary raffle

#900821
zahavasdad
Participant

BTW if you win, you have to pay TAX on the Prize.

If you win some cheap prize at a chinese auction like a bunch of museum admissions, I wouldnt worry about the tax, But this prize has significant value and you will be responsible to report the prize as income.

It might be worth $20K-$30K and you will owe state and Federal tax on it.