I have a tax question.

[rubyredsquirt]

I need help figuring this out.

I'm single, age 26, i live with mom right now. I have no income right now, no job. I'm in California.

Anyway, I won a $5,000 prize a while back this year and recently was notified of a trip win with an approximate arv of $4,000 that I'm not sure to accept yet because I'm worried that I will have to pay taxes. I have until october 2010 to redeem this trip so if i go on the trip next year that means I pay taxes in 2011 right? not next year?

Help me please, I am confused.

Thanks to all that post sweeps here, by the way.

 

[zwriter]

Best person to ask would be a tax professional; but I think that you are correct.

 

[loren_brothers]

and ... if you make so little money you probably won't end up paying taxes on it anyways ... so go and have fun!

 

[rubyredsquirt]

thanks for replying. i accepted already. i can't wait, i've never been on a plane trip before.