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

Wiki User

∙ 2012-08-13 00:25:05

Best Answer

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

∙ 2012-08-13 00:25:05

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Olympics

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Related questions

Do olympic athletes have to pay taxes on their medals?

yes, on every medal they win they have to pay taxes on it.

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

Yes.

How much do Olympic Metal winners pay in taxes?

If u win gold you will pay over 5k in taxes

Where did Sharon davies win olympic medal?

WHERE DID SHARON DAVIES WIN OLYMPIC SILVER MEDAL/

First Indian to win olympic medal?

who is the first indian to win an individual medal in Olympic games

What Olympic Medals did Michelle Kwan win?

Michelle Kwan has an Olympic silver medal and and Olympic bronze medal.

Who was the first Indian woman to win an olympic medal?

The first Indian woman to ever win an Olympic medal was Karnam Malleswari.

Who will win the next Olympic medal?

who knows

What do you get if you win in the olympic games?

A gold medal

Who was the first woman to win an Olympic Gold Medal?

Charlotte Cooper became the first female to win an Olympic Gold Medal (for tennis) in 1900.

How much money do you win when you win an Olympic Gold Medal?

$50,000

What sport did Dorothy Hamill win an Olympic medal?

Dorothy Hamill won the Olympic medal in ice skating(:

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