Exactly why I designed the first raffle to be as transparent as possible and the results blew me away.
I assume the prize is less than 300x the ticket and there's no 1099 issued?
Still taxable.
That wasn't the question.
Why ask the question in the first place unless you are planning to commit tax fraud.
@Dan, let us know if an IRS IP address browses these forums so we know whether or not we need to claim the income...
And if you do, you better make sure your name isn't publicized as the winner
Of course I'm gonna pay it. Together with the sales tax on all my out-of-state internet purchases.
I will take that as you plan on committing fraud.
You misread him. He said he plans on paying it. And sales tax on OOS purchases
I do appreciate that you no longer say “no 1099 will be issued.” Imo that encourages ppl to commit fraud
What do you think the point of saying no 1099 will be issued? If that isn't a wink wink I don't know what is.
We need a separate @EJB and @ChaimMoskowitz thread to discuss all raffles.
Just the ROI.
