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Thread: What Really Happens When Someone Wins A TV Game Show

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    What Really Happens When Someone Wins A TV Game Show

    -Jeopardy, Wheel of Fortune—heck, even Family Feud—all feel like tickets to prosperity when you're watching from home. And the winnings are real. It's just that those winnings come with some pretty hefty strings attached.

    We're not saying you should feel sorry for the lady who just won a Caribbean vacation with the spin of a wheel and some lucky guesswork. But before you quit school to travel the game show circuit, there are a few things you should know about the nitty gritty details behind the pageantry.

    Here's more from a woman who has been there, done that, and paid the taxes.

    Aurora De Lucia, a TV editor and blogger in New York City, appeared on The Price Is Right in 2013.

    Here's what she learned from that not-quite life-changing experience, and what you have to expect if you plan to follow in her footsteps.

    So, What All Did She Win?

    De Lucia was pretty successful during her The Price Is Right appearance. She was well-prepared. As an avid fan, she had years of experience with the show. She even knew to check the prices on Goldbond Medicated Powder before taping.

    And, unlike some contestants, she had zero qualms about using the handy "bet $1 more than the last contestant" strategy.

    The result was that De Lucia won a bit of cash ($96, to be exact), a pair of fancy 3D camcorders, and—the big prize—a brand new Chevy Cruze LS sedan.

    The Downside of Game-Show Winnings, in a Word

    It all boils down to one thing: taxes.

    Actually, to be fair, there are a few other drawbacks...

    http://www.fashionbeans.com/content/...ame-show/11401

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    Valiant Woman (08-12-2017)

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    Administrator fuego's Avatar
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    I remember on person who was interview about a talk show, and this was many years ago, said they had a tax person on site to give you what you owed, etc.

    AOPA gives away a totally refurbished plane ever year and I've read articles about many of the winners selling the planes because the tax burden was too high.

  4. #3
    Quote Originally Posted by fuego View Post
    I remember one person who was interview about a talk show, and this was many years ago, said they had a tax person on site to give you what you owed, etc...
    Read the article, its an eye opener for sure. A few examples from it:


    "The total cash value of her prizes was $21,008, as De Lucia writes on her blog.

    With federal, state, and sales taxes all stacked on top of each other, that tax bill came to nearly $9,000.

    She had to pay the $2,067 sales tax out of her pocket before she could even pick up the car..."


    "Even taking possession of your prizes can be a bit of a pain. Take the cars that Schwartz and De Lucia won. The show finds a local dealership to hand the vehicle over to you. But the word "local" is defined pretty loosely in this case.

    Dealerships can be up to 150 miles away from your home. To make matters worse, the show gives you a 90-day window in which the dealership might have your car ready. But when you get the call, you only have 10 days to pick up your winnings.

    Not everyone can drop everything to travel 150 miles within 10 days. And if you don't make the deadline, you forfeit your prize..."


    "At least you can sell your physical prizes. If you should win a trip to the Bahamas, your tickets and hotel stays are non-transferable.

    If you are able to take the trip, don't forget that you'll still have to pay taxes on the cash value. Since some of these trips are worth thousands of dollars, that can end up being a pretty penny. These vacations aren't quite "free" after all. In fact, nothing you win on a game show is..."

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    Senior Member Valiant Woman's Avatar
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    Bummer! Guess my dream for being on Jeopardy! will remain a dream. I refuse to have my winnings taxed by the greedy government. I think the super wealthy networks should pay all the cost for the contestants. They make $$$billions$$$ from sponsors, that's the least they could do.
    When your praise match your prayers, the answer will come.
    https://www.facebook.com/Valiant-Wom...1103844642026/

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    Romans828 (08-15-2017)

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    Administrator fuego's Avatar
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    Quote Originally Posted by Valiant Woman View Post
    Bummer! Guess my dream for being on Jeopardy! will remain a dream. I refuse to have my winnings taxed by the greedy government. I think the super wealthy networks should pay all the cost for the contestants. They make $$$billions$$$ from sponsors, that's the least they could do.
    The good thing about Jeopardy is that you win cash. So you can pay your taxes with the cash you won.

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