Taxes...

By josimac
in General Discussion

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  • 2 weeks later...
Grand Master

PricklyPoo

Posted
Posted

Well, I won around $1200 of stuff around a year ago in a microsoft raffle, and I emailed microsoft if I would have to pay taxes on the items and they never responed so I just let them send the prizes. I was as happy as could be when they arrived.

It is now a year later and I get a form for taxes I have to pay on the items. Around $900 dollars. I have never been more ****ed off in my life. Now I have to figure out how to pull $900 dollars out of my a** to pay taxes on the prizes. And the tax is almost as much as the prizes were worth.

If I knew this was going to happen I would have never accepted the prizes in the first place.

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Grand Master

Berserk87

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Posted
Well, I won around $1200 of stuff around a year ago in a microsoft raffle, and I emailed microsoft if I would have to pay taxes on the items and they never responed so I just let them send the prizes. I was as happy as could be when they arrived.

It is now a year later and I get a form for taxes I have to pay on the items. Around $900 dollars. I have never been more ****ed off in my life. Now I have to figure out how to pull $900 dollars out of my a** to pay taxes on the prizes. And the tax is almost as much as the prizes were worth.

If I knew this was going to happen I would have never accepted the prizes in the first place.

theres probably ways you could write it off...might count as tax fraud though :p

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Apprentice

GPW

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Actually, no, you don't have to pay 900 dollars in taxes or even half of that. The way it works is that the monetary value of the prizes is added to your income on your taxes. So, if you made 42,000 for last year, when you file your taxes and figure out what you owe or what you get back, you now have to state you made 42,900. Make sense?

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