If you win TDF and get $500,000 in prize money , I assume you need to account for that as income when doing your taxes. But doesn't the winner usually toss that money into the overall team pot to be spilt up by the team?
So you show a nice income on your taxes but you don't actually have anything to show for it. Can you deduct the $500,000 as maybe a business expense ?
Just doing my taxes and was wondering
So you show a nice income on your taxes but you don't actually have anything to show for it. Can you deduct the $500,000 as maybe a business expense ?
Just doing my taxes and was wondering