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It's only not taxed if you agree, in advance of receiving the prize, to donate the proceeds to a charity. Any form of keeping it for your own use is taxable un
by techsupporter 13y ago
It's only not taxed if you agree, in advance of receiving the prize, to donate the proceeds to a charity. Any form of keeping it for your own use is taxable under those rules (you must meet "all of the following" requirements for the award to not be taxable).