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is this generally not understood? For example, if you go on price is right, and you win a nice trip to tahiti, you still have to pay tax on it.


If it's generally understood, then it's wrongly understood:

https://www.irs.gov/businesses/small-businesses-self-employe...

"Who pays the gift tax? The donor is generally responsible for paying the gift tax."

>For example, if you go on price is right, and you win a nice trip to tahiti

Those are prizes or winnings, not gifts. Totally different tax treatment.


Gameshow winnings are not a gift. I think it is considered gambling and taxed accordingly.


Well, most people might think any sort of Crypto is gambling too...




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