Don't forget if you win you have to pay the IRS a 40% gift tax. So 1040 of the 2600 goes to the IRS.
Apparently a couple of years ago some guy won a contest to go to a concert. It was valued at some substantial amount like $5000. The irs sent the guy a bill for 40% of that so if it was $5000 then the bill would have been $2000. That's just plain nuts. The poor guy was on disability and there was no way he could afford the $2000. The media made a big stink about it though and someone paid his bill apparently. Anyways keep in mind before you accept a prize, can you afford the 40% gift tax? :frown:
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