Thursday, February 3, 2011

Let's Make a Deal-Tax Time

For those that have followed our Let's Make a Deal adventure, you by now know that I did receive my prizes, albeit, a whole year later, to which some disgruntled reader commented, "quit your whining!" Ok, I won stuff, you don't have to be a sore loser or have prize envy. Now for that looming question on everyone's mind, will I have to pay taxes on the whole thing? Well this mystery has been solved today. When I got home, I was not only greeted with the smell of ham cooking in the oven, dogs barking and begging, but mail. There it was in an over sized envelope, 3 Door Productions on the return address and a 1099 stuffed inside, claiming my winnings of $1548 and no they did not take the depreciation of giving me a used TV, which by the way, I had to have fixed less than a year later because the power panel inside went out costing my "free" TV and whopping $150.00 to fix. "Better to fix it" the TV repairman says in a Spanish accent. Well, yeah, but it shouldn't break down after less than a year. Thank god for the TV repairman.

So there you have it, if you win, you have to pay taxes like it was income you made. That's the price of 15 minutes of fame and prizes. Would I do it again, heck ya.

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