You win You lose
April 30, 2006 9:36 AM Subscribe
Do contest winners lose money because of taxes?
If I enter a contest and win $100,000 in non refundable travel will I end up having to pay the taxes (US) from my savings? Can I refuse the prize and save my money? I didn't win anything, but reading the contest rules started scaring me away from even playing. What do people with no savings do in that situation? This whole system just seems wrong.