In the eyes of the Internal Revenue Service, medal winners are no different from lotto prize recipients or someone who hits a jackpot in Vegas. The prize is considered income, and income gets taxed. But it’s not really the actual medal that has to be reported, it’s the money awarded by the United States Olympic Committee.
In recognition of representing the United States with a victory, the USOC gifts gold medalists with $25,000; $15,000 for silver; and $10,000 for bronze.
17.8.16
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