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If you win money or prizes on a game show, the winnings are taxable. If you win at leastR$600, you'll probably get a 1099-MISC tax form from the entity that awarded the cash prize, and that entity will also send a copy to the IRS. Even if you don't get a 1099, you still have to report the value of your winnings.You don't receive your winnings immediately.\n\n You don't get to drive off the set in the new car you just won, nor do they immediately pay you any money you win once you step off the stage. It usually takes between 90 and 150 days to receive your prizes.
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If you win money or prizes on a game show, the winnings are taxable. If you win at leastR$600, you'll probably get a 1099-MISC tax form from the entity that awarded the cash prize, and that entity will also send a copy to the IRS. Even if you don't get a 1099, you still have to report the value of your winnings.
You don't receive your winnings immediately.\n\n You don't get to drive off the set in the new car you just won, nor do they immediately pay you any money you win once you step off the stage. It usually takes between 90 and 150 days to receive your prizes.
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