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If a competitor wins a prize does that prize constitute income for tax purposes? I don’t mean in the specific case of ice skating but in the general profession
by TheSpiceIsLife 9y ago
If a competitor wins a prize does that prize constitute income for tax purposes?
I don’t mean in the specific case of ice skating but in the general professional performer / athlete sense.
- sseveran 9y agoI don't know if they still do but historically they had to pay. https://www.usatoday.com/story/money/personalfinance/2016/08/15/olympics-victory-tax-gold-medal/88587636/ https://www.usatoday.com/story/money/personalfinance/2016/08...
- Simon_says 9y agoWhy not? Everybody else does.