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Do the olympic gold medal winners have to pay taxes on the medal?
Wiki User
∙ 11y ago
Only U.S. Olympic athletes are liable to pay income tax on medals earned and prizes received at the London games. Under U.S. tax law, they must add the value of their Olympic medals and prizes to their taxable income.
At today's commodity prices, the value of a gold medal is about $675. A silver medal is worth about $385 while a bronze medal is worth under $5.
There are also prizes that accompany each medal: $25,000 for gold, $15,000 for silver, and $10,000 for bronze.
Wiki User
∙ 11y ago
Wiki User
∙ 11y agoYeah, $9,000.
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What Olympic gold medal winners went on to become actors?
Carl Lewis was one. (not very successfully though) there maybe more
Do the winners of an Olympic event get a cash prize along with a medal?
The International Olympic Committee does not award cash prizes to the winners. Many countries, however, do offer cash prizes and other incentives to medalists. In 2012, American competitors who won Olympic medals were rewarded in cash by the US Olympic Committee. Gold medal winners received $25,000, Silver medal winners received $15,000, and Bronze medal winners received $10,000. However, the real money is earned through commercial endorsements. Some Olympians get paid a performance bonus from sponsors for winning a medal and may sign commercial endorsements that could wind up paying them millions.
Is there a list of British Olympic Gold Medal Winners?
In figure skating, the list of Olympic Gold Medal winners from Great Britain is short. British men won back-to-back titles with John Curry winning in 1976, and Robin Cousins in 1980. Jeannette Altwegg was the ladies' champion in 1952. Jayne Torvill and Christopher Dean, undoubtedly the most famous British figure skaters of all time, won the ice dancing medal in 1984. As of 2014, no British team has ever won the Olympic Gold Medal in pairs skating.
Who was the first American to win a gold medal in the Olympic games?
The first ever Olympic winner, according to tradition, was Coerobus in 776BC. In 1896, the first modern Olympic games, the winners received a silver medal. The gold medal wasn't used until the 1904 summer olympics. There were 91 events, so 91 gold medalists - a list of the winners can be found in the related links.
Where did Dan Gable win the Olympic gold medal in wrestling?
He won Gold at the 1972 Munich Olympic games.
Do Olympic gold medal winners pay taxes on their medals?
Here in Britain the answer is no
How many Olympic gold medal winners are alive as of 2013?
There are hundreds of Olympic gold medal winners alive as of 2013.
Which player has an olympic gold medal and an fa cup winners medal and a premiership winners medal?
Kanu
What prizes do the olympic winners receive as well as a gold medal?
they receive a medal
Why do Olympic medal winners bite on the medal?
Type your answer here... TO VARIFY ITS REAL GOLD
How much do English Olympic gold medal winners get paid?
Nothing
Is the 1908 Olympic Winners Medal made of solid gold?
yes
How much do olympic gold medal winners get paid in swimming?
$1000
What prizes do olympic winners receive?
In modern Olympic, the first-places winners got gold medal ,the second-places winners got silver medal and the third-places winners got bronce medal. In ancient Olympic, the winner got olive branches.
How much do London olympic gold medal winners get paid?
That will be based on the country. The US Olympic committee pays an award bonus of $25,000 for a gold medal.
How much does great Britain pay Olympic gold medal winners?
Nothing
Gold medal in Beijing olympic?
The gold medal is an award given to the first place winners in Olympic events. The most recent Olympics in China followed in this tradition.
