Originally Posted by
BigRedDad
Congratulations!!!! :party:
Now to be a little of a party pooper, but it is in your best interest. Who did you win it through? The reason I ask, is many places give away trips. However, those are given out at extremely high MSRP. The company giving it will take a huge write-off, but you are stuck paying Federal and State income taxes on the insane MSRP. My SIL won a trip for two to a resort in Arizona. They went, all expenses paid. Then, at tax time, they received another statement that they owe taxes on a $15k, 2-day trip. The trip out of pocket would have been only $1500, 10% of the MSRP. They had to pay $4.5k in taxes for the "free" trip.
Just be careful.