MrMcNuggett

Does anyone know how they will be doing the info for us to pay the taxes on our trip....are they going to mail us something or email it so we will have proof when we do our taxes

Jenna

Good question. I wonder if they have until Jan 31st to send the information to us, like employers have sending the w-2s out.

Or if we simply just write "$1020.00" in winnings on our taxes somewhere. I don't think the IRS is big on making us prove that they need to take taxes.... they're probably more concerned with making us prove why they can't take taxes away from us, lol.

MrMcNuggett

If i don't get anything a week after the 31st i think i will just put $1020 on my taxes cause i want my refund....i like getting my money back as soon as possible...they had it all year long now i want it back.

Jenna

If I get all my tax stuff in, I'm not waiting for paperwork from Scion about the $1020. I don't need to prove to anyone that I won (I'm like 99.9% sure on that) and if I ever get audited and they want proof that it's okay to tax my winnings, lol, the paper work will be sent by then or I could just as easily get something sent from Scion about it.

MrMcNuggett

Yeah that is true..we'll just have to wait but I ain't waitin too long.

KYfirefighter

I am almost positive that the frequently asked questions stated that we would be responsible for reporting the winnings on our taxes meaning that it's up to us to report them. I have printed out the frequently asked questions from the event that explain that the cash value of the prize is 1020 dollars to keep on file in case of an audit. if they were going to give us a 1099-g (Gambling earnings form) they probably would have given it to us already. it is usually distributed as soon as a prize is awarded and doesn't usually go by the january 31st date that employers use.

onefunkyfreshdj

i would say that SCION is gonna chalk that one up to "Advertising" & write it off as a business expense.

Jenna

No, they're definitely wanting us to claim the $1020 each. They've been saying that since the beginning. But I'm sure the other $ spent on us will go to advertising.

robbiej

I hope we hear something, I have to claim the winnings for my Phoenix trip also, think that was a $500 cash value, so $1,520 for me.

06B0X

If I claim anything, its only for the hotel as I drove and was reimbursed for that so I really only won two nights at the Lowes - the rest of it, who knows.

Jenna

I don't think you get to pick and choose what your feel the value of the trip was. Unless they said somewhere that certain people got less than $1020 in prize value, but I don't think they did.

You can always take a chance though. There's a lot you can take a chance with when it comes to taxes. I don't know if Scion's list of winners is something the IRS would like to have handy, just in case they felt we needed to win an audit too, lol.

06B0X

Well I would assume my prize was valued much less since no airfare was needed, but I guess I'll find out.

Toyota_Kitten

hmmm yea this is confusing to me. i have never won anything, so i don't know how it works. what if it was GIVEN to you - not really won (liek you didnt enter - they just invited you) so you report it then?

and what if you didnt fly? - you drove - what is the cash value then???

Toyota_Kitten

they reimbursed you for travel???? they didnt reimburse me - rarrrr

NVSHSKR

Well I have won a trip in the past and they will send you a 1099, and I would recommend including it in your taxes because technically it is considered income and YOU are responsible for paying taxes on the trip.

ScionEyes

we need an accountant!

katchkillah

so what about those like me who was invited and wasn't a winner?

shorberg

i think you are probably still responsible for the taxes on the gift

Toyota_Kitten

but that woudlnt make sense... b/c that's like saying if one gets a gift for christmas we hafta pay taxes. like if you got a $5000 check from grandma you hafta pay taxes....

if you are invited its considered a gift right? this is where i am confused.

i agree with brandy - we need an accountant. b/c i need to figure this out - we all do.

scionlarry

On the 1040 form I'm just putting 1020 on line 21 other income. that way uncle sam don't try getting me later.

I will be subtracting all my lottery losses from that amount though. :D