COORS LIGHT SUPERBOWL SWEEPS GRAND PRIZE

J

johnsnook

Active member
Sweepstakes Plus Subscriber
I just got a call from the sweeps admin. saying I won the Grand Prize worth $8,250. A trip to the Super Bowl in Miami, 2 tics and hotel for 4 days. I don't think I can afford the taxes, so I may have to turn it down. I wanted one of the TV's.Happy but kinda bummed too !
 
Congrats, taxes are a killer, I HAD TO PAY $4,000 IN TAXES ON A SUPER BOWL TRIP I WON IN 2006. WE STILL HAD A GREAT TIME.
 
If I'm thinking correctly I think the taxes would be somewhere around $500. If you didn't make a ton of money in 2009 but accept the prize and claim it on your taxes, they might not even take anything out, or little. Hard to say because I don't know you. lol. I won a trip that was valued at $1,500 and I don't think they are going to take anything out of mine, but if they do it'd be like $100. Make sure you look into it! Congratz!
 
I won a superbowl trip from Ballpark Franks. The trip was to leave on Friday and return on Monday. The taxes were over $2000. I turned the trip down. $2000 is a lot of money for a 4 day trip. You could go away for a week or two for that amount. I turned down the trip. They would not give me cash but they did send me an official NFL football as a consolation prize.
I won an all inclusive trip to Jamaica for 1 week. The sponsor never asked for my ss number and therefore I did not pay any tax on that trip.
 
Sometimes I play games too hoping to win the second, third...prize. Plus they exaggerate the values of these trips sometimes so you could possibly research the hotel/flight/tickets prices and get the fair market value for tax purposes. This article explains some more about it: http://contests.about.com/od/taxesfinances/ht/FMVvsARV.htm
Sometimes when sweeping I see some trip prizes and think I could plan my own (same) trip and it would be still be less than what I'd have to pay on taxes based on their approximate retail value. :crazytongue:
 
A BIG Congrats on that one!!!! I just got done setting my NFL playoff fantasy lineup and saw this post. WOW!!!

Congrats again!!! What a WIN!!
 
You don't have to pay taxes on the Sponsor's ARV but the actual value of the prize. Sponsors usually place a high ARV on any trip prize, especially since they don't know where the eventual winner would be flying from until the winner is announced. Before turning down the prize, do some research on how much the hotel rate is for those days, then do some internet searches on how much a comparable flight costs on those days on the same airline, the actual costs of the tickets, etc. Print out and document all of this and I bet the value would be a lot less. If the IRS has any problems, you have the documents to back it up.
 
:headbang: Fantastic win!! If you can go I would recommend that you go. Coors Light throws a great party. I won one of their NASCAR trips and we went to Atlanta over Labor Day weekend. I can't think of anything they could have done to make it better! We were treated like royalty!
 
mz6877 said:
How do they figure taxes on prizes like this?
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laidbackguy7 said:
You don't have to pay taxes on the Sponsor's ARV but the actual value of the prize. Sponsors usually place a high ARV on any trip prize, especially since they don't know where the eventual winner would be flying from until the winner is announced. Before turning down the prize, do some research on how much the hotel rate is for those days, then do some internet searches on how much a comparable flight costs on those days on the same airline, the actual costs of the tickets, etc. Print out and document all of this and I bet the value would be a lot less. If the IRS has any problems, you have the documents to back it up.
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LIDARKSIDE said:
You never pay taxes on anything you don't receive. That would be like paying taxes on money you never got.

When keeping documentation on trips, you need to do some of it beforehand. As soon as you get your itinerary, look up the exact flight and section for the pricing. As for everything, use the lowest price you can find on the internet and print it up. Do the same for the hotel. Anything during the trip that the sponsor is paying for make sure you get a pricing on paper. You should do this with the hotel also as the sponsor may get a far cheaper rate than you will find on the internet. Just be honest and let them know that you need it for tax purposes.

We've won at least seven trips, each trip ended up costing more than 50% LESS than the stated ARV, and all but one sponsor already had the price readjusted down on the 1099. With the other one, we called them up; and they readjusted the 1099 down. They had just failed to communicate the proper costs to those who handled the paperwork.
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CoorsLight.com - Super Bowl XLIV Sweepstakes New
You'll need a code to play but the site will assign one for you: E3CRH3 (Which didn't work for GSW, but WV code below did). Grand Prize (2) a trip for two to Super Bowl XLIV in South Florida in February 2010 or Super Bowl XLV in Arlington, Texas, in February 2011, ARV $8,250-$10,000. First Prize (2) a trip for two to the 2010 Pro Bowl or the 2011 Pro Bowl, $5,000-$7,000. Second Prize (10) a 40" LED flat-screen TV, ARV $2,299. Third Prize (44) a Coors Light Super Bowl XLIV lit sign, ARV $200. Fourth Prize (44) an NFL Super Bowl Collectors I-XL DVD set, ARV $150. Fifth Prize (44) an autographed football helmet (team and autograph to be determined by Sponsor at its sole discretion), ARV $269. Sixth Prize (200) a $50 NFLShop.com gift card/certificate. Gift card/certificate is subject to the terms and conditions of the issuer at time of prize award. Seventh Prize (200) a Coors Light Super Bowl XLIV football, ARV $13. Eighth Prize (200) a Coors Light Super Bowl XLIV hat, ARV $8.
Restrictions : 21+ US (exc. CA) | Limit : 2 Per Person / Email Per Day *Code available online. WV residents can use code E3AYQ4. | Added : 12-26-09 | Expires : 02-07-2010 | Hits : 5617 | Rules

Entry Category : Instant Win


Entry deadline for a chance to win Super Bowl XLIV tickets is 11:59 p.m., MT, on 1/3/10.
 
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