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#8
January 21st 04, 02:08 PM
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"Jordan" wrote in message ... Americans get taxed on material prizes as well as cash? Wow! It makes winning a new car or house or plane or whatever a burden to the wrong person! Certainly, it's just like any other income. You get taxed on the value. What's really absolutely stupid is that if you win a "new" car, you get taxed on the MSRP irregardless of what the going rate is, or the fact that this "new" car depreciates 70% in the first few feet it's driven. 
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