man wins home irs wont let him have it..

My sister-in-law did the dash around town promo contest held by a radio station in Shreveport a few years ago and won a new Ford Probe GT.

It was at Christmas time. My brother had to add the sticker value of the car to his income for the year...$22,000.

That pushed his income up by so many tax brackets and it was too late in the year for him to adjust for it.

Yep, he paid the IRS half the cost of the car on his taxes that year and had to borrow money to do that.

Their son was starting college, so my brother took the view that he bought the kid a Probe GT at half price. :hihi: