Author Topic: How to fill out taxes if you won money on TPiR (or any CA-based game show)  (Read 1753 times)

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Offline BillyGr

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Re: How to fill out taxes if you won money on TPiR (or any CA-based game show)
« Reply #15 on: January 31, 2024, 08:17:58 PM »
Correct. The minimum amount you'd have to win to be required to report it to CA and on your federal taxes is $0.50 (50 cents). Less than that, and it rounds to $0 and is thus non-reportable.

Though, don't most taxes have a minimum amount of income below which there will be no tax due?  Basically, what is covered by an exemption or similar.

Offline LiteBulb88

  • 4/15/2019
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Re: How to fill out taxes if you won money on TPiR (or any CA-based game show)
« Reply #16 on: January 31, 2024, 09:13:18 PM »
True. In CA, for part-year residents or nonresidents, that minimum income is a bit over $21k for individuals with no dependents and higher if one is married and/or has dependents. Note that's income from all sources, not just CA-based ones. The full set of minimums is here:
https://www.ftb.ca.gov/file/personal/residency-status/part-year-and-nonresident.html#Filing-requirements

Offline LFAT since diapers

  • 11/20/2023
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Re: How to fill out taxes if you won money on TPiR (or any CA-based game show)
« Reply #17 on: February 13, 2024, 08:14:18 PM »
Mailed my California return today, refund of $140.00 incoming. Thank you!

We've had quite a few people win stuff on The Price is Right and other California based game shows in the past year. Congrats! If you're one of them, I wrote a guide about what tax forms to fill out and some advice on how to fill them out here:

https://stoseontpir.blogspot.com/2024/01/guide-to-taxes-for-california-based.html

I'm happy to answer any questions anyone has about this as I am licensed to help people do their federal taxes. However, I must add the disclaimer that I am not a tax professional.

Good luck!