Seventeen $250k scholarship sweepstake question!!!!HELP!!!!?

Question

I want to enter Seventeen Magazine $250K scholarship sweep stakes but I'm gonna be in college for another 4 years so would I have to pay tax and how much?

Do you think I should enter?

Answer 1

if it is a scolarship you wouldnot get taxed i belive becuase they are not paying you they are paying the school. but if you did IRS takes 30% Medicare takes 15% deposites and Other Expencives take 10% so You woould have about 100K Or less. minus the Posteage Stamp XD