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kenstate
New Member

Is money from a school competition taxable??

My son entered a College school competition and won a cash prize amount. Is it taxable?
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2 Replies
SharonD007
Expert Alumni

Is money from a school competition taxable??

Please clarify the type of tax form your son received for the prize money.

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Hal_Al
Level 15

Is money from a school competition taxable??

In addition to what, if any, tax form the money was reported on, Tell us more about the nature of the prize and the competition.  For example, 4H and FFA prizes are subject to special tax treatment. 

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