The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  https://boards.fool.com/prize-taxation-22823684.aspx

Subject:  Prize Taxation Date:  7/31/2005  8:51 PM
Author:  NaggingFool Number:  80186 of 133139

I received a gift basket as a prize for finishing last in a race. I paid an entry fee for the race. Does that entry fee have any effect on the taxability of the gift basket?

- Megan

Copyright 1996-2021 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us