Who Else is Entering the Coke Contest online? (I've won 25 bottles of Coke so far)

[RobInBigKC]

oh snap! I thought everwhere I went ther was coke and then there was dp.

Well, that is often the case (most McDonald's restaurants being one of the best examples of this) which is kind of interesting. I guess whoever has the most power when the soft drink fountain contract is signed gets to pick what products the restaurant will sell. I know for a fact that sometimes the Coca-Cola company will require all of the soft drinks sold out of the fountains at a place to be their products only; other times, you will see a mix of Coke company and non-Coke company products.

DP is a product of the Cadbury Schweppes company. Their other brands are Seven Up, Canada Dry, Clamato, Hawaiian Punch, Mott's, Schweppes, and Snapple.

-- Rob

 

[kaytieeldr]

Just remember - the IRS considers ALL contest winnings to be taxable. With an AVR of $7.45 per prize coupon, if you've won 100 bottles, your taxable winnings are $745.00.
Of course, if you redeem the coupons when Coke's on sale AND KEEP YOUR RECEIPTS, you can prove to the IRS (if necessary) that your actual prize value is much lower than Coke's estimate.

The above information is provided by someone with NO legal or tax experience; heck, I don't even have any winning experience

 

[DaisyD]

Just remember - the IRS considers ALL contest winnings to be taxable. With an AVR of $7.45 per prize coupon, if you've won 100 bottles, your taxable winnings are $745.00.
Of course, if you redeem the coupons when Coke's on sale AND KEEP YOUR RECEIPTS, you can prove to the IRS (if necessary) that your actual prize value is much lower than Coke's estimate.

The above information is provided by someone with NO legal or tax experience; heck, I don't even have any winning experience

I don't think I'll be reporting those 15 bottles of coke anytime soon. LOL! I wouldn't report 150 for that matter. I'd be real curious to see who here who has one so many actually report it to the IRS.

 

[NorgeKathrine]

Just remember - the IRS considers ALL contest winnings to be taxable. With an AVR of $7.45 per prize coupon, if you've won 100 bottles, your taxable winnings are $745.00.
Of course, if you redeem the coupons when Coke's on sale AND KEEP YOUR RECEIPTS, you can prove to the IRS (if necessary) that your actual prize value is much lower than Coke's estimate.

I think the above poster made a typo. If you've won 100 bottles that works out to 20 coupons. The coupons have an AVR of $7.45 which times 20 would be a value of $149 to report to the IRS. Now, if you won 100 coupons then you would have the AVR of $745.

Is there a minimum dollar amount that one would have to reach before reporting it to the IRS?

 

[ines248]

Question about IRS 745.00 tax value.

How do they(IRS) know if you used all the coupons before they expired (if they have and expiration date)?

How do they know if U got the coupons?
I Still do not have a permanent mailman (7 years without a permanent USPS mailman) and we depend that we still have honest people in the neightborhood that comes to U house to deliver your letters. Last time I had 6 different letters that did not belong to me and when I was re-delivering I felt like I was the (postal) mailman going form one house to another house.

And finally what about the ones you give out a gift or sell below retail price? Do U still have to pay taxes for a coupon with no none or less manufacturer retail price value? Remember soda goes on sale sometimes buy one get one free.

 

[TSM1993]

Just remember - the IRS considers ALL contest winnings to be taxable. With an AVR of $7.45 per prize coupon, if you've won 100 bottles, your taxable winnings are $745.00.
Of course, if you redeem the coupons when Coke's on sale AND KEEP YOUR RECEIPTS, you can prove to the IRS (if necessary) that your actual prize value is much lower than Coke's estimate.

The above information is provided by someone with NO legal or tax experience; heck, I don't even have any winning experience

Actually the 7.45 is on 5 bottles not 1 bottle so you would devide the 100 by 5 which = 20 x 7.45 = $149.00 not $745.00 ( i dont pay $7.45 for a 2 liter bottle ) but I do pay about $1.49 a 2 liter bottle. Maybe I fiqured wrong.

 

[disneysteve]

So let's get real now. How many people think either:

A) We are never going to see all the coupons we supposedly won, or

B) Some guy at Coke who thought up this contest will be joining the ranks of the unemployed very shortly?

I'm sure Coke underestimated the reach of the Internet in spreading the word about this contest. Just here at DIS, we've probably won a combined several thousand bottles. I'm up to 135 myself.

 

[MickeyP]

MOST coupons do not have a cash value or they state 1/20th of a cent something like that. I don't think we need to report these. OR, am I wrong?

 

[disneysteve]

MOST coupons do not have a cash value or they state 1/20th of a cent something like that. I don't think we need to report these. OR, am I wrong?

It isn't the value of the coupon. Its the value of the item you are getting for the coupon. If they gave you a coupon for a free car, you couldn't say the prize was 1/20 of a cent.

 

[In Luv with Disney]

I'm up to 255 bottles, and I don't think I will be reporting them to the IRS!

 

[kaytieeldr]

I think the above poster made a typo. If you've won 100 bottles that works out to 20 coupons. The coupons have an AVR of $7.45 which times 20 would be a value of $149 to report to the IRS. Now, if you won 100 coupons then you would have the AVR of $745.

Is there a minimum dollar amount that one would have to reach before reporting it to the IRS?

Yeah, okay, fine - I made a mistake. Make note of it, because it virtually never happens

 

[NorgeKathrine]

Yeah, okay, fine - I made a mistake. Make note of it, because it virtually never happens

Kaytie,
The worst part is, you made your rare mistake on the internet... now it will live on FOREVER!!

 

[gr8ful4Him]

So let's get real now. How many people think either:

A) We are never going to see all the coupons we supposedly won, or

B) Some guy at Coke who thought up this contest will be joining the ranks of the unemployed very shortly?

I'm sure Coke underestimated the reach of the Internet in spreading the word about this contest. Just here at DIS, we've probably won a combined several thousand bottles. I'm up to 135 myself.

Oh, I don't think they're even blinking an eye at this. I know it sounds like alot of giving away, but that's why companies run promotions like this. It really is just a drop in their bucket. The main thing is that their name is getting out...and so is their product, hopefully seeing repeat business after all is said and done.

 

[cmic]

I can't find the button that I have to push to get them to send me the codes... sorry

 

[gr8ful4Him]

I can't find the button that I have to push to get them to send me the codes... sorry

Right below where you enter the codes in, there is a place that says "Where's Your Code?" if you click on that, they will give you a security code to enter and then send you a code. You have to be registered and logged in.

 

[cmic]

Thanks! I won 2 golds... so far I have (5) 2-liters of pop!

 

[preb]

cmic,

If you've won 2 golds, you have 10 2 Liters of pop!

 

[MickeyP]

It isn't the value of the coupon. Its the value of the item you are getting for the coupon. If they gave you a coupon for a free car, you couldn't say the prize was 1/20 of a cent.

Well, I'm winning a coupon. They are sending me a coupon. Whether I use it or not is up to me.
I've never heard of a contest where you win a coupon for a car.

 

[goin2disneyagain]

I am up to 125.

 

[tink2020]

I am up to 125.

I just looked, and so are we! Wow! I had no clue we had that many