When you win concert tickets from a station is it free?

Question

When you win concert tickets from a station is it free?

Answer 1

If the value of all prizes won from any single company is over $599 expect a Form 1099 to arrive by January 31 of the year after your winnings (in the US). You will have to add this to your gross income for the year. If under $600, no problem.

Keep in mind that one company usually owns several stations. So, if you win $200 worth of something from each of three of their stations during the year, you'll get the form.

If it's The Rolling Stones and you win four tickets at $250 each, yup, you'll have to include the actual face value in your taxes and perhaps pay more tax than you would have had you not won. Everyone's tax situation is different - it may not affect you at all. But do not ignore any 1099 Form that comes your way (the IRS gets a copy too. And, yes, they match them up).

Other than that possibility, they are free. Congratulations!

-a guy named duh

Answer 2

wat do u think huh

of course its free

u WON it

Answer 3

Other than the gas you use to pick them up, yes.  Sometimes they will even mail them for you.  Prizes given out that have a value less than $1500 (in that range) are not subject to taxes.  If you won a car or something large, then you would have to pay the tax on that amount.

Answer 4

yes

Answer 5

yes its free