Aug
30
How much tax will we have to pay on a rv camper worth $14,000 we won in a raffle drawing?
Filed Under fundraising
DMe asked:
We did not pay for the raffle ticket they were just given away. We also did not pay anything when we received the camper they are going to send a 1099 or what ever form is required at the end of the year. We want to make sure we save enough from the sell of the camper to cover the taxes.
charity
We did not pay for the raffle ticket they were just given away. We also did not pay anything when we received the camper they are going to send a 1099 or what ever form is required at the end of the year. We want to make sure we save enough from the sell of the camper to cover the taxes.
charity
Comments
One Response to “How much tax will we have to pay on a rv camper worth $14,000 we won in a raffle drawing?”
That depends on your total income for the year - the % will be whatever your tax bracket is. For many people that would be 15%, of $2100, but yours could be higher or lower.