Won A Rolex

[jatco]

For what you won, and what you'd have to pay (if claimed) offsets the value of the watch.....-
Either way.. you did Great...IMO...(may depend on how the price giver list it as, with the IRS...(ie, tax right-off, contribution to a non-profit organization...etc.etal..!..) -Not sure if that matters to you or them or the IRS... -
but hell.. still a good deal.

[mdtddd2007]

CONGRATS...U r one lucky guy. Great watch!

[rr-nyc]

Originally Posted by mazakmustang

It is the Stainless Steel, list price 11,250 WOW. Again so very excited to have won this very beautiful piece.

Beautiful!
Just curious, was the raffle for a 116520 or 116509? If I were buying, I'd get the stainless. If I were entering a raffle to win a white gold, I'd expect the white gold

[MortgageGuy]

Originally Posted by mazakmustang

Here are some pics




It is the Stainless Steel, list price 11,250 WOW. Again so very excited to have won this very beautiful piece.

AMAZING!!!! Congrats

[Watch Professor]

Originally Posted by Cru Jones

i believe so.....but, as OP did not win cash, but, rather, an item, i'm not sure if the taxable event is the receipt of the watch or the sale (when he would receive income).



anywho, big win!!

Yes, it is taxable.

[spyderco10]

Originally Posted by dsio

If you have a spare link after sizing, can't you just mail that off and be done with it?

taxes must be paid in cash

[joe100]

yeah, they do this every year. I never win it haha. Congrats to you Mazak!!! I saw last year's watch at the Rolex AD, was actually given a pretty decent offer on it. I passed. Never been much of a Daytona guy but boy they sure are nice!

[BeekerMuppet]

Originally Posted by mazakmustang

Here are some pics




It is the Stainless Steel, list price 11,250 WOW. Again so very excited to have won this very beautiful piece.

Wow, congrats!

[Jinder]

I must say that's amazing!!! Super luck! Enjoy the Rolex! Well done! :)

[mazakmustang]

Originally Posted by joe100

yeah, they do this every year. I never win it haha. Congrats to you Mazak!!! I saw last year's watch at the Rolex AD, was actually given a pretty decent offer on it. I passed. Never been much of a Daytona guy but boy they sure are nice!

My Dad won that watch last year HAHAHA

[Timber Loftis]

Originally Posted by Lol-x

So you guys in the USA have to pay tax on prizes you win????

Yep. Income is income.

[Timber Loftis]

Originally Posted by fespo276

Taxable event, yes. That is why there are people who win big ticket items (think $100,00 car) sometimes literally cannot "afford" to accept the prize outright.

Indeed. Remember when Oprah gave a new car to everyone in her audience? Well, some time later she had to turn around and also pay all their taxes on the cars to avoid a s**tstorm of bad press because a bunch were about to lose their cars and/or get audited.

[Garf Disto]

You've had a great win there.

They dont come round too often.

[chicagofan]

Congrats! Awesome prize.