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12-07-2020 01:08 PM
Many years ago, I worked with guy who had been on Jeopardy. Apparently, he did pretty well. He never shut up about it and he become the office joke because he told his "when I was on Jeopardy" story so often.
12-07-2020 01:13 PM - edited 12-07-2020 01:22 PM
You pay federal tax on everything you win. You can always refuse a prize. Sometimes the sponsor will offer a cash equivalent....but not in all cases. Many times by refusing a win, you just get nothing.
I won a car years ago in 1987.....I was broke at the time....had to take a high interest loan out to be able to pay state license and taxes to even take position of the car...AND THEN The IRS wanted their Share💰( about a third of the value).
so ended up I had to sell the car...to pay off the loan.....And pay the IRS🙁 I came out with about $8000 cash free and clear.
But I really wanted to keep that car!😢
winning is not always easy or free
12-07-2020 01:18 PM
Oh yes you have to pay the taxes! You can't leave after the show, if you win, without filling out the paperwork. Drew Carey even said the other day that if the contestant won the car there was lots of paperwork to complete. Another thing also, if you win a lot, you don't get to pick and choose what you want to keep. You either keep everything you won, and pay the taxes, or take home nothing.
12-07-2020 01:25 PM
I remember when one of the QVC models was on The Price is Right. I don't remmber whe she won anything or not.
12-07-2020 01:36 PM
My Church Pastor was on Family Feud, he is a NFL football hall of famer Aneas Williams. I think they played for charity and I don't know how taxes work with that
12-07-2020 01:43 PM
My 7th grade English teacher was on Jeopardy (1964?). He did not win.
In the early days of Who Wants to be a Millionaire? I called in and answered the questions correctly and was invited to ABC studios in Miami. About 200+ people. We took a 100 multiple choice test and they called my name and about 25 others to stay. Sent all others home. We then got in teams of 3 and simulated a game with introductions and all. Sadly, never got called for real game.
12-07-2020 01:44 PM
A cousin was on Wheel of Fortune and my brother was in LA at the time and went to the taping
12-07-2020 05:45 PM
My neighbor Tom was on Jeopardy in 2017. He won on the first day and lost on day two.
12-07-2020 11:44 PM
I was on Top Card which aired on the Nashville Network. I won 3 games. You can refuse any prizes. You have to fill out all the paperwork for taxes before you can leave.
12-08-2020 12:06 AM
@PINKdogWOOD wrote:Sometime in the 1060s I had an Aunt who was on The Price is Right. What ever possessed her to try to get on this show is totally beyond me but she was. She won a boat!!! Well growing up in NJ being really close to the shore of course after she received it I remember a few of us went out on it. Happened only once then they sold the boat. No one in the family knew nothing about boating, it was fun for a NJ minute!
@PINKdogWOOD I am shocked there was TV in the year 1060? LOL
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