Do TV game shows really pay contestants the prize money they win? How?
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DOES A PERSON HAVE TO PAY TAXES ON THE PRIZES THEY WIN ON A GAME SHOW BEFORE THEY LEAVE THE GAME SHOW OR JUST CLAIM THE PRIZES ON THAT YEARS TAXES?
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Answer:
Of course they do. They send a check.
Aimee Seligstein at Quora Visit the source
Other answers
Jeopardy! sends you a check within 120 days after your airdate. My shows aired in April 2012, and my check came sometime in July. They withhold the California state income tax, but you're on your own for the Federal taxes. They give you a 1099 and it just gets reported as income.
Adam Holquist
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