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K
kenstate
April 1, 2023
Question

Is money from a school competition taxable??

  • April 1, 2023
  • 1 reply
  • 0 views
My son entered a College school competition and won a cash prize amount. Is it taxable?

1 reply

SharonD007
SharonD007
April 1, 2023

Please clarify the type of tax form your son received for the prize money.

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Hal_Al
Hal_Al
Employee
April 1, 2023

In addition to what, if any, tax form the money was reported on, Tell us more about the nature of the prize and the competition.  For example, 4H and FFA prizes are subject to special tax treatment. 

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