re: Anyone ever win anything in a raffle drawing?

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Won a car at a casino once


That’s awesome. What kind of car was it?

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Lexus SUV.

How does the tax work for this?

Won a radical Huffy Murray bmx bike in the 80s in a raffle. It was gnarly.

$500 off a wedding reception at White Oak Plantation a million years ago. I already had a reception booked elsewhere, so lame.

I won a year's supply of Diet Coke from a convenience store in my neighborhood back in the 80's when DC first came out. I didn't even like Diet Coke.

They defined "a year's supply" as a six pack of cans a week for a year. My dad drank it all.

I buy two $100 tickets every year on dream home type drawings with multiple prizes. Never win shite. Have also bought a few tickets for one that gives away a Yukon. Zip.

Have bought numerous tickets for charity gun raffles and the like. Nothing.

Buy $100 of tickets every year at an event with numerous prizes. After 5 years, I won a T-shirt, I call it my $500 T-shirt.

Starting to think the shite is rigged.

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How does the tax work for this?

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IRS tried to hit me with income tax on MSRP. I actually wholesaled it back to dealership because I was in college at the time and needed money more than a Lexus. Disputed tax bill and only paid income tax on wholesale value.

Still came out ahead and it helped during school.