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October 8, 2019
Question

Hi! I won a car in a raffle and I was wondering how I would know what taxes need to be paid on it?

  • October 8, 2019
  • 1 reply
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1 reply

Critter
Employee
October 8, 2019
Congrats ... they will issue you a 1099 for the win and the fair market value goes on your return in the same place as gambling winnings. How it will affect your return is hard to know since you didn't give enough info to give any kind of guess.