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Get your taxes done using TurboTax
Hi! This was helpful. I was wondering - I won $50K at a gameshow and a trip that they valued at more than $18K. I did some research and even if I got the presidential suite, there’s simply no way this trip could possibly cost THAT much. So I asked the trip bookers for a receipt and they said the entire trip was only $990 because the room was complimentary. I assume they gave it to the gameshow in exchange for advertising/air time. Should I adjust the 990 from the show from $68,000 to $50,900 and include the receipt they gave me and the explanation from the trip people? Or am I supposed to estimate the value of the room looking at the online rates? Thank you!!!
December 10, 2019
2:07 PM