Final 2015 numbers

rammstein

rammstein

Well-known member
Sweepstakes Plus Subscriber
Not including SYW pts (which I never post):

65 wins - $4,850

Highest value prize was a trip to meet LeBron James ($3,775) which turned out to be a bust. I'm still trying to get Coke Sweepstakes to lower the ARV for tax purposes.


2015 was one of my slower years. I'm looking forward to 2016 as it is an even numbered year and in the past 2 even numbered years, I have won cars. <fingers crossed>


As always, Good luck and sweep on!!
 
Wow. Some nice wins. Especially the years of the cars. Please let me know if you have any luck with Coke. I won a final four package from them 2016, so it will be on next years taxes.
 
Congrats on all your wins! On the issue of the taxes - I don't know if you use turbotax, but when you claim your income from sweepstakes wins, turbotax has a sub-section for if the sponsor's ARV of a prize is inflated, and higher than what you believe the actual value to be. You put the amount you believe to be true, and turbotax automatically lowers the amount you are declaring and paying taxes on. I have done this twice and never been audited. Of course, I have the documentation to back up my lower figures. This year, I won a trip that included 2 nights hotel that the sponsor valued at $900. I went on Priceline and found the exact same room for those same two nights, for $400, so I will only have to pay taxes on $400, and I printed out the Priceline information to keep in my tax files in the unlikely event of an audit. I think this inflation of ARV of prizes must be common for turbotax to devote a special section to it. :)
 
Thanks! Yes I won a 2012 Camaro SS signed by Tony Stewart from Armorall.com and a 2014 Mustang V-6 from Taco Villa. I ended up selling both but it was cool to drive them for a little while.


jujyfruit01 said:
Cool wins, congrats. 2'cars in the past? Wow!
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Everything from Coke was delivered as promised. My only complaint was that LeBron James was late and spent less than 5 minutes with us. So I'm trying to get Coke to cover some of the taxes. I'm probably fighting a losing battle but I'm gonna keep bugging them anyways.

phifferj said:
Wow. Some nice wins. Especially the years of the cars. Please let me know if you have any luck with Coke. I won a final four package from them 2016, so it will be on next years taxes.
Click to expand...
 
Thanks for the info!

Everything from Coke was delivered as promised. My only complaint was that LeBron James was late and spent less than 5 minutes with us. So I'm trying to get Coke to cover some of the taxes. I'm probably fighting a losing battle but I'm gonna keep bugging them anyways.

kdh58 said:
Congrats on all your wins! On the issue of the taxes - I don't know if you use turbotax, but when you claim your income from sweepstakes wins, turbotax has a sub-section for if the sponsor's ARV of a prize is inflated, and higher than what you believe the actual value to be. You put the amount you believe to be true, and turbotax automatically lowers the amount you are declaring and paying taxes on. I have done this twice and never been audited. Of course, I have the documentation to back up my lower figures. This year, I won a trip that included 2 nights hotel that the sponsor valued at $900. I went on Priceline and found the exact same room for those same two nights, for $400, so I will only have to pay taxes on $400, and I printed out the Priceline information to keep in my tax files in the unlikely event of an audit. I think this inflation of ARV of prizes must be common for turbotax to devote a special section to it. :)
Click to expand...
 
congrats & good luck! i just won my 2nd car. 2015 Camaro designed & signed by Jimmie Johnson, should get it in next few weeks. delivering it from North Carolina by truck. think i spoke to u in past & u won similar from ArmorAll & Tony Sterwart.
 
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