I read some comments from former game show contestants who won a lot of prizes and one of them said that the very first thing they did with the car they won was to sell it back to the dealer and just take the money. He said he owed a chunk for the truck and the 5th wheel camping trailer he won, but he was responsible for the capital gains tax to come. He sold the trailer and made enough to take care of the tax burden.
Skittlesharts t1_j22iu6b wrote
Reply to comment by manorwomanhuman in Here is a picture of my Great Grandpa(right side) who had just won a Rolls Royce for getting a hole in one at Harrah’s invitational in Lake Tahoe, 1966. by tgurnea
I read some comments from former game show contestants who won a lot of prizes and one of them said that the very first thing they did with the car they won was to sell it back to the dealer and just take the money. He said he owed a chunk for the truck and the 5th wheel camping trailer he won, but he was responsible for the capital gains tax to come. He sold the trailer and made enough to take care of the tax burden.