I won a trip to Disney world!! Now what?

M

mswolfe

Member
Well this week I won my biggest prize ever!! A trip to disney. the travel agent is sending us our tickets etc, but I won through our local very small grocery store. No one yet has asked me for my SS . Does that mean there is a chance I wont have to pay taxes on it? :"and if I do have to pay taxes any advice on how to keep track of everything? :)
 
Paying taxes is a requirement for ALL wins. :cussing: Whether you choose to pay taxes on those that you don't receive a 1099 on is a personal decision, even though the IRS requires it. :nono: If they send you a 1099 then I wouldn't skip the taxes. :laughing:
 
:sunny: Congrats on the great win! I wouldn't hold my breath on not receiving a 1099. Even if you do, you may not pay any taxes on it. Depends on your financial situation. I would keep track of all the costs just to compare with what they say was the cost. Have a fantastic time!!
 
Thank you all so much for your help! It really is a bummer that you have to pay taxes on a win. It should be really free! hahaha :wave:
 
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