Quote:
Originally Posted by Wizzo
Its not for the medals, Its because The United States Olympic Committee rewards Olympic medalists with honorariums. A gold medal brings $25,000. Silver medals get you $15,000. And a bronze is worth $10,000 and so they are taxed as if its income because it is.
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It makes sense, but I agree too that it'd be a grand gesture to make this income tax-free.