Do you have to pay taxes if you win an Olympic medal?

Anonymous

∙ 12y ago

Updated: 8/20/2019

Yes, Olympians must pay taxes on their medals as of now. However, they also receive money for winning medals too. Currently Congress is debating whether Olympians should have to pay taxes.

Wiki User

∙ 12y ago

What else can I help you with?

How much do Olympic Metal winners pay in taxes?

The prize taxes for a gold medal honorarium of $25,000 is pegged by ATR at $,8750. Combined with the tax on the medal itself, a gold medalist will have to pay the IRS $8,986. A silver medalist must pay $5,385 on the medal and the $15,000 honorarium and a bronze medal winner must pay $3,502 on the medal and the $10,000 honorarium.

Does the US pay money if an olympic contestant win a medal?

Yes.

Where did Sharon davies win olympic medal?

WHERE DID SHARON DAVIES WIN OLYMPIC SILVER MEDAL/

Who will win the next Olympic medal?

who knows

When did Nigeria win her first Olympic gold medal?

Nigeria won her first Olympic gold medal in 1876

What medal did the US Olympic team get in curling in the year of 2010?

They did not win a medal.

Which medal does a third-place competitor win in an olympic event?

Bronze Medal

Countries never to win olympic medal?

Albania

What did Bruce Jenner win an olympic medal for?

Decathlon.

Did Cullen Jones win an olympic medal?

yes

Can jordan wieber win an olympic medal?

Yes!