First VAX A MILLION winner announced in Ohio! First free 4-year ride to college won by a 14 year old! YOU GO MIKE! OK?

Wow! Are you kidding me? That is a rhetorical question. You never joke. Wow! So Oprah didn't pay the taxes on the cars she gave away? Wow! Who knew? Wow. I know I'm wowing way too much but well I didn't know and now I do and I'm WOWED! How do people find that out? After the fact when it's way too late? Thank you for your reply Walt. Hopefully no one ever gifts Jim or me with something way valuable! We couldn't afford it! :)

It's a great government scam.
If Oprah bought the cars - she had to pay tax.
   (I don't know if they were donated as prizes, or not.)

When the winner received the vehicle - they had to also pay taxes, because it was a "winning".

You are allowed to receive a certain amount in gifts (I believe up to $20k) - but it has to be from family, I think.
But winnings are always taxable.  Doesn't matter if it's from the lottery, a game show, or a church raffle.
The government figures your "personal wealth" increased, so they should get some of it.

They never tell you that of course but still aren't you ahead even so Walt? Also I wonder if they are obliged to inform you of that before you take possession of it? It seems to me that should be mandatory. I don't know if Oprah bought the cars or the manufacturer donated them to get the publicity. Which brings something up I hadn't thought about before. How is double taxing of the same legal? Does it happen all the time? Now there's a SCAM if ever there were one. I think if you win over $1000 of something it is automatically reported in Vegas or wherever. Maybe it's $1100. So if you hit it "big" and win a couple hundred bucks no one is going to dog you for taxes. At least it used to be that way years ago. Anyway I like Mike DeWine and how he thinks. Maybe he'll pay the taxes? Thank you for your reply and Happy Friday to thee and thine! :)

I understand, but the fact is that even if the kid has to pay 50% in taxes, he's still $500K ahead of the game which he can use towards college.

So he is awarded $1 million - not a "free ride" for 4 years of college?
That is different.  
Then it's just like a lottery, and they take the taxes up front.
Now all he has to do is hire a financial advisor.

This was just on the news.  There is a young woman who won a million and the boy won a free four-year ride to college.  The same person did not win both.

:):):)

:):):)