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

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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.

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Wiki User

∙ 12y ago
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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.


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