Quote:
Originally Posted by borge12
So, would the APV could be considered income? If the trip is worth $2000, and my tax bracket is at 25%, would I owe $500?
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That is my understanding, pretty much true for any type of sweepstakes or other contest. If the single value is over $600 then you should get a 1099 and the IRS then definitely will be looking for it. Can't see how this wouldn't be over that amount. Regardless, even if its under that amount, you are supposed to report it.