Won prizes worth ~$3,000 with Blinds.com, however tax issues arise

E

eran2011

New member
Hello all,

I recently won the blinds.com sweepstakes, which included a bunch of smart house prizes and a $2,000 gift card to blinds.com. Since I live in a rental and can't change my blinds (nor do I want to), I opted out of the gift card so I don't have to pay tax for it (can come to 30%-40%). Do you have experience with similar cases? I thought about trying to sell the gift card, but figured that a large amount like this will be very hard to get rid of.

Erin
 
sorry you couldn't use your prize - if you opted out that usually means they will select another winner - that was nice of you to do that so someone else that might need it could use it - it probably would have been difficult to resell and I think you would still have been responsible for taxes if you accepted it - I think you did the right thing under the circumstances
 
I remember that one didn't enter because I have a brand new house with new blinds, taxes are a big issue and blind.com is not a cheap store would be harder to sell. I have backed out of trip like the Marlboro sweepstakes ranch and a couple others bad timing etc.
 
Congratulations on your win! I'm sure it was a tough choice to opt out of the gift card, but I agree that the taxes would be a pain.
 
traveldreamer said:
If it's not too late, you can sell any gift card easily on ebay
Click to expand...

I think ebay limits selling gift cards to the value being $500 or less.

I think the winner did the right thing to decline the prize. Unfortunately when you win a big prize, you maybe losing money when you factor in taxes.

blind.com is a very niche category. I once won a $250 gift card to MLS (soccer). Couldn't find a buyer. Just bought something on the website.
 
jlee9355 said:
I think ebay limits selling gift cards to the value being $500 or less.

I think the winner did the right thing to decline the prize. Unfortunately when you win a big prize, you maybe losing money when you factor in taxes.

blind.com is a very niche category. I once won a $250 gift card to MLS (soccer). Couldn't find a buyer. Just bought something on the website.
Click to expand...
Agree. I wrote to a few gift card websites, and they didn't have any interest in such a specific gift card.
 
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