If you won $10,000 playing “Plinko” on The Price is Right, you will have $3,000 deducted by the IRS. Just like lottery winnings, the IRS withholds 30% of the gross value of a prize. Game show winnings under $600.00 (cash, luggage, or parting gift) are not taxed by the IRS. game show and won cash or prizes, you will be assessed tax on winnings over $600.00. If and how much you’re taxed depends on the total amount of your winnings. resident game show winners are taxed on the cash value of the prize. And they want their share.Īs far as the IRS is concerned, “winnings” can mean a free gift, a prize from answering a trivia question, or anything in between. Whether you win a prize as a game show contestant, receive a gift from Ellen’s “12 Days of Giveaways,” or get lucky playing the lottery, the IRS considers it taxable income.
game show? Like Doug Hicton, who won $84,900 on Jeopardy! back in 2007. But what if you’re a Canadian and you win on a U.S. In the U.S., winners are taxed on the value of the prizes. In Canada, contestants are not taxed on their winnings. The prizes given on Canadian game shows (luggage, his and her watches, or blenders) always seem to pale in comparison to what winners in the United States take home (cars, trips, money).īut there is another major distinction between U.S.
In Canada, some of the most popular game shows have been Definition, Pitfall (hosted by the then-unknown Alex Trebek), Chain Reaction, Bumper Stumpers, Supermarket Sweep, The Mad Dash, and Headline Hunters.Īnd why not? Game show winners can take home a lot in cash and prizes-or at least they do in the U.S. With shows like Match Game, Family Feud, The Price is Right, Let’s Make a Deal, Hollywood Squares, Wheel of Fortune,and Jeopardy! dominating the ratings over the years.
CANADIAN GAME SHOW APPLICATIONS TV
The game show has been a popular staple of daytime and nighttime TV since the 1940s.
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