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Video Tips: Game Show Awards – Tax Tips You Need to Know

We all have our favorite game shows such as Wheel of Fortune, The Price is Right, and Let’s Make A Deal, and we love to have the contestants win big. Unfortunately, those winnings are taxable on the contestant’s state and federal tax returns.

Discover the ins and outs of taxes on game show prizes in this informative video, where we break down how the fair market value of non-cash awards like cars and vacations can impact your tax obligations.

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