I won???

[buzz2400]

I was notified by MTV that I won a trip for two to see a concert but they will not exactly tell me what I won. My question is if I sign all the papers about me paying the taxes and then can't go on the trip (they decide the date) do I still have to pay the taxes if I ultimately don't accept the prize. I don't even know if I won. They say I won but then they say I am a finalist. I have been waiting to win a vacation for so long and can't believe how messed up this contest is. Any input will help. I have to fax papers back tomorrow.

 

[jjohnson]

Once you sign the papers - you have made the commitment to accept the prize whether you go or not you will receive a 1099 for the approximate retail value.

I won a trip on Regis & Kelly (appox. retail value $10,000) I got the 1099 a few weeks ago for exactly $9,000. I called to question them or at least get a breakdown because I did end up going off season but they said its approximate & can not be changed.

Thought I would at least try to say some tax - oh well. At least we had the trip of a lifetime.

Good Luck! Hope its somewhere warm & south of us.

 

[Maleficent2]

I had read somewhere on a contest board that you can contest the amount on the 1099 if it sounds unreasonable to what would really be the cost. I would keep good records while on vacation.

I am not sure how this is done maybe call the IRS and see if they can help you on this on.

I will see if I can find more info for you and post.



Mal

 

[buzz2400]

thanks for the reply.