[dfwgator]

All prizes are taxable, why should Olympic medals be any different?

[cherry]

we went to a Ducks Unlimited banquet and bought raffle tickets and whalaa, I won....you know how these things work...they get a lot of donated items, put their high end retail price on them for you to see, even though thru good shopping you could get it much less...

so a prize package is greatly inflated...

but, they'll send you a W2 claiming the inflated price and you pay taxes on that....

so no, I do not feel bad for these athletes....happy problem to have..

[Gamecock]

**All prizes are taxable, why should Olympic medals be any different?**

Gambling losses are deductible.
Why not the years of costs associated with getting the athlete to the point where they are now winning something?