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New Member
posted Aug 29, 2025 8:23:07 AM

I won a car through a Facebook raffle this year. How will I have to account for it in this years taxes?

I won a 1967 Ford Mustanf Fastback Shelby GT500 Restomod car this year. I am wondering how I will have to account for the win in this years taxes.

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1 Replies
Level 15
Aug 29, 2025 8:42:28 AM

You will receive a 1099-misc which you report in the TurboTax program. You might consider making estimated federal and state tax payments to cover your unexpected tax liability.